PBOC deeply regrets US Senate's yuan bill
Updated: 2011-10-04 13:13
BEIJING - The People's Bank of China, the country's central bank, Tuesday expressed its "deep regret" about the US Senate's currency bill that pushed China to let the yuan appreciate further.
The central bank said the US Senate's bill may seriously affect China's currency reform, and could result in a trade war between the two economies.
There are a variety of reasons for the global trade imbalance. The yuan's exchange rate was not the major reason of the trade imbalance between China and the United States. The bill will not help resolve the US domestic problems, it said in a statement posted on its website.