BREAKING NEWS

China's bank deeply regrets US currency bill

By REUTERS

OCTOBER 4, 2011 04:52

HONG KONG - China's central bank said on Tuesday it "deeply regrets" a US currency bill that pressed China to allow its yuan currency to rise in value.

The People's Bank of China also said the passage of the bill may seriously affect its currency reform, potentially leading to a trade war between the two sides.

"There are multiple reasons for the global trade imbalance, and the trade imbalance between China and the United States is not because of the renminbi's exchange rate," it said in a statement posted on its website.

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