The Foreign Ministry Responded To The US Senate'S Passage Of The Renminbi Exchange Rate Sanctions Bill.

Recently, the United States senate Despite China's resolute opposition, the "2011" was adopted in a procedural way. Currency exchange rate The supervision reform bill is proposed. Under the pretext of "monetary imbalance", the case further escalated the exchange rate issue and adopted protectionist measures, which seriously violated the WTO rules and seriously interfered with China and the United States. Economy and trade The Chinese side firmly opposes this.

Sino US economic and trade cooperation has distinct characteristics of mutual benefit and win-win, bringing tangible benefits to the two peoples, and increasingly becoming an important foundation and driving force for Sino US relations. China and the US are already the second largest trading partners, and China is the fastest growing export market in the United States. As we all know, the RMB exchange rate is not the cause of Sino US trade imbalance. Since China's decision to further promote the reform of the RMB exchange rate formation mechanism in June 2010, the RMB has appreciated by 7% against the US dollar. The Chinese side will continue to improve the managed floating exchange rate system in accordance with the principle of initiative, controllability and gradualism, and enhance the flexibility of RMB exchange rate and keep it reasonable. equilibrium The basic stability on the level.

China urges the relevant members of the United States to proceed from the overall situation of Sino US economic and trade cooperation and the interests of the United States, to correctly and rationally understand the essence of Sino US economic and trade cooperation and to win the win-win situation, and to stop manufacturing problems by means of domestic legislation and put pressure on China. China appeals to the United States to abandon protectionism and politicize economic and trade issues, so as to create a favorable environment for the development of bilateral economic and trade relations.