On October 11, US Senate passed Currency Exchange Rate Oversight Reform Act of 2011. Concerning the issue, MOFCOM Spokesperson Shen Danyang commented that, in this critical moment for world economy to recover, US Senate force, through legislation, its trade partner to appreciate currency, which is just like sending signal of trade protectionism update and is wrong. It violates international rules, and not only threatens steady development of China-US trade and economic relations, but also runs counter to joint efforts of all nations in the world to together cope with challenges and combat trade protectionism. China firmly opposes it.

Mr. Shen stressed that, China has been always calling for strengthening communication between China and US, and adopting active and positive measures to progress China-US trade and economic cooperation. Once the said bill of US Congress becomes law, China-US trade and economic relation must be seriously damaged, which is not what China wants to see. We hope the US can give a through and clear consideration to this, objectively and reasonably look at the exchange rate issue, and make the right decision.