Ministry Of Commerce: China Will Take Measures To Respond To Us Exchange Rate Bill

The Ministry of Commerce has held a regular press conference.

For the US Senate passed the renminbi exchange rate bill, Ministry of Commerce

In October 12th, the US Senate passed the currency exchange rate reform act 2011, calling for the government to impose punitive tariffs on major trading partners whose exchange rate is undervalued.

It is generally believed that this is to force the renminbi to accelerate appreciation.

The Chinese government has made it clear that this act is a manifestation of protectionism, and China resolutely opposes it.

China has set a solemn stand on the bill passed by the United States Senate.

As a spokesman for the Ministry of Commerce, Shen Danyang has made a two speech. The US Senate has passed a legislative way to force the trading partners to appreciate the currency, which has seriously violated international rules and has deviated from the international obligations of the United States.

Shen Danyang said that if the United States persists in its independence, it will seriously damage Sino US mutually beneficial relations and the long-term interests of the two peoples.

China will have to make further response.

We hope that the US side will not