Mofcom: Sino-US agreement on renminbi exchange rate is untrue

China News agency, Beijing, April 19, according to media reports said Vice minister of Commerce Zhongshan said that China and the United States have reached a preliminary agreement on the renminbi exchange rate issue.　　The news office of the Ministry of Commerce said in a telephone interview today that the contents of the report were untrue, and Mr. Zhong did not say so.　　Recently, a mainland media reported that the vice Minister of Commerce Zhongshan, China's import and Export commodities Fair ("Canton Fair") said that after consultation, the Sino-US agreement, China's foreign trade policy will remain basically stable, the renminbi exchange rate will maintain basic stability. On the renminbi exchange rate issue, the Ministry of Commerce spokesman Yao Jian at a regular news conference on April 15, said, "This is a country's sovereignty issue."　　China will make "appropriate arrangements and options" for the RMB exchange rate according to changes in domestic and foreign economic conditions. He added that China's macroeconomic policies would remain continuous and stable in the absence of significant improvement in the external market. The RMB exchange rate remains stable, not only to support the export industry, but also to effectively curb hot money inflows of important measures. 57d earlier, Chinese President Hu Jintao, in a meeting with U.S. President Barack Obama, said the reform of the renminbi's exchange rate regime "is particularly unlikely to be pushed under external pressure".