Source: Xinhuanet

03-29-2007 18:29

Foreign ministry spokesman Qin Gang has called on the United States to strengthen communication with China on the renminbi exchange rate issue instead of adding pressure.

Qin made the remarks at a press conference on Thursday in a response to earlier condemnation from two US congressmen on China's RMB policy. They blamed the low exchange rate of the RMB leading to the huge deficit the US bears in Sino-US trade and the high unemployment rate in the US.

Qin said the Chinese government is, as always, highly responsible for the RMB exchange rate issue. The current rate was set according to China's status and fluctuates within a reasonable range.

Qin said the US ascribing its problems in economy to China is unreasonable and unfair. He reiterated that China will firmly proceed with reforming the RMB rate setting mechanism and strive to keep the rate fluctuating within an acceptable trade band.

 

Editor:Du Xiaodan