Foreign Ministry: Accusations and pressure are not conducive to Sino-US economic and trade problems

Xinhua Beijing, February 4 (Xinhua Li ZHONGFA Alina) Foreign Ministry spokesman Ma Zhaoxu said 4th in Beijing that the U.S. side to objectively and rationally look at the many problems in Sino-US economic and trade cooperation, insist on the proper treatment of equality and consultation, accusations and pressure is clearly not conducive to the solution of the problem. Speaking at a regular press conference on the RMB exchange rate and Sino-US trade issues, Ma said that since the reform of the RMB exchange rate mechanism in July 2005, China has been steadily implementing a managed floating exchange rate system in accordance with the principles of initiative, controllability and Gradualism, and the renminbi has risen more than 20% against the dollar.　　At present, from the balance of payments, foreign exchange market supply and demand, the RMB exchange rate is approaching a reasonable and balanced level.　　Ma pointed out that the RMB exchange rate is not the main cause of the U.S. trade deficit with China, nor has it deliberately pursued a surplus, and has always made it an important task to maintain China's macroeconomic stability. "China-US economic and trade cooperation is mutually beneficial and has brought tangible benefits to the two peoples, and we hope that the US side will objectively and rationally look at the many problems in Sino-US economic and trade cooperation, insist on the proper treatment of equality and consultation, and that accusations and pressure will not help solve the problem." "said Ma.