China has blamed a U.S. Senate bill pressing for appreciation of the Chinese yuan for obstructing trade ties between the two countries.
The U.S. Senate voted on October 3 to allow a debate on the bill that addresses the so-called "currency manipulation" by China.
The People's Bank of China, the country's central bank, said the bill may seriously affect China's currency reform, and could result in a trade war between the two economies.
China's Ministry of Commerce said the yuan exchange rate was not to blame for China-U.S. trade imbalance, so it is unfair to use the controversial bill to transfer the U.S. internal contradictions.
Foreign Ministry spokesman Ma Zhaoxu has called on the United States to abandon protectionism or politicizing economic issues so as to create favorable environment for the growth of bilateral economic and trade ties. |