CHINA: Congressional interference is only serving to complicate the
Chinese yuan debate, the Ministry of Commerce said Friday, repeating the
government’s call to avoid the politicization of Sino-U.S. trade ties.
“Over 100 U.S. Congressmen have put pressure on this issue, complicating
it,” He Ning, the director of the ministry’s department of American and
Oceanian affairs, told reporters at a briefing. “The Chinese yuan is a
complicated issue. We are not authorities on this so we can’t blindly
comment on it but we believe that this issue should be discussed on the
foundation of mutual benefit and mutual respect.” He spoke of the
benefits of Sino-U.S. trade, including that Chinese purchases of U.S.
Treasury securities help to stabilize the U.S. financial markets.
He said that trade issues should be discussed on an “equal footing” with
one side avoiding pressuring the other.