Department of Commerce: beauty to the grounds of the exchange rate does not match the WTO rules anti-subsidy investigation

29-United States House of representatives passed the "consideration to monetary reform and promoting fair trade bill", press spokesman for the Department of Commerce, Yao Jian 30, in this interview with Xinhua said to exchange rate on the anti-subsidy investigation, does not comply with the relevant rules of the WTO.

Yao-strong, Sino-US trade and economic cooperation is of mutual benefit. In recent years, China has been the United States export fastest-growing market, according to the US statistics, January-July, the United States exports to China increased by 36.24%, higher than the United States since China import growth 14.4 percentage points higher than the United States exports growth 13.6 percentage points.

He said that China is willing to work with us to take measures to continue to promote Sino-US trade towards more balanced development. Hope that the United States from all walks of life to be able to objectively and comprehensively assess the facts, to contribute to economic and trade cooperation between China and America, conducive to the long-term development of the United States for the correct choice of their own interests.

Yao Jian pointed out that the Chinese side never to underestimate the Renminbi exchange rate method to get a competitive advantage. The present situation of Sino-US trade between the two countries ' trade and investment structure is determined by economic globalization global industrial division and structural adjustment as a result, there is a surplus of China on the United States, but many Asian countries and regions also have huge deficit, not only because the United States on China trade deficit would take it that the Chinese have underestimated the RMB exchange rate, and tried to take this as an excuse to protectionist measures.

He stressed that the unilateral negative limit does not solve the problem of Sino-US trade balance, the United States should take the abolition of restrictions on exports to China and other positive measures to enable more marketable product exports to China. (Source: daily economic news)