U.S.: China Not Manipulating Currency
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WASHINGTON -- The Bush administration said Tuesday that China does not meet the technical requirements of a country that is manipulating its currency to gain unfair trade advantages.
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None of the United States' major  trading partners manipulated their currencies to gain economic  advantage in the first half of 2004, the U.S. Treasury  Department said in a report released on Friday.
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Chinese Prime Minister Wen Jiabao has rejected pressure for exchange rate reforms and criticized the United States for not doing its part to keep the dollar from weakening.
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China's yuan is not substantially  undervalued given the country's balance of payments, but it  will manage capital flows with the aim of eventually making the  currency convertible on the capital account, China's central  bank governor said.
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U.S. Treasury Secretary Henry Paulson   will not demand that China rapidly lift currency exchange rate   controls when he visits, preferring dialogue to protectionist   threats, an official Chinese paper said on Tuesday.
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Chinese officials reiterated their country would move toward a flexible foreign exchange rate, but offered no new specifics on the timing in a joint statement issued on Friday after talks with high-level US officials.
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Chinese banking officials say they will not rush any moves to ease the yuan from its tight peg against the US dollar.
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WASHINGTON -- The Bush administration on Friday won a commitment from China that it will move to a flexible, market-based currency.
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The Bush administration yesterday declined to cite China for manipulating its currency to gain unfair trade advantages and also declined lawmakers' request to pursue a trade case on the current issue.
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DAVOS, Switzerland  - China has lost faith in the stability of the U.S. dollar and its first priority is to broaden the exchange rate for its currency from the dollar to a more flexible basket of currencies, a top Chinese economist said Wednesday at the World Economic Forum.
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There is no time frame for a shift  away from Beijing's tight currency peg and the United States is  mistaken if it thinks it will reap big benefits from a move, a  top Chinese central bank official said on Sunday.
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U.S. Treasury Secretary Henry Paulson urged China on Thursday to work toward a freely floating currency, only to be told that America fails to understand how Beijing is making headway on economic reform.
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U.S. Treasury Secretary Henry Paulson  said on Monday a strong U.S. dollar was in the interest of the  United States and he was not seeking any "quick fixes" on  China's currency situation.
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DAVOS, Switzerland  - China told the world on  Saturday it will not rush to reform its pegged exchange rate  regime, dashing hopes for a breakthrough on currency issues at  next week's Group of Seven finance ministers' meeting.
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China&#39;s policy of fixing the value of its currency to the dollar has made government efforts to slow its economy more difficult, the US Treasury Department said in a semi-annual report
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China is willing to promote  flexibility of its currency, but it will keep the yuan  &quot;basically stable at a reasonable, balanced level,&quot; Vice  Premier Wu Yi said on Thursday.
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A senior Chinese central bank official has warned the United States not to blame other countries for its own economic difficulties, a report said.