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China pledges to push forward with currency reform after US criticism

Published on Apr 16, 2014 3:53 PM
 
China said on Wednesday, April 16, 2014, that it will push forward with reform of its renminbi exchange rate mechanism after the United States criticised Beijing for keeping its currency weak. -- FILE PHOTO: REUTERS

BEIJING (Reuters) - China said on Wednesday that it will push forward with reform of its renminbi exchange rate mechanism after the United States criticised Beijing for keeping its currency weak.

China hopes the US can see this clearly and "properly handle the relevant issues", China's Foreign Ministry spokeswoman, Hua Chunying, said at a daily news briefing.

The Obama administration on Tuesday stopped short of declaring China a currency manipulator, but expressed doubt over the resolve of the world's second-largest economy to let market forces guide the value of the yuan.

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