US delays China `currency manipulator` report
Baku, October 16 (AZERTAC). The US government has delayed a report - which was expected on Friday - that could officially brand China a "currency manipulator".
The US Treasury releases two reports a year on the currency practices of its major trading partners.
It has so far held back from naming China. The report is not now expected until after an upcoming G20 summit.
China said the US should not use the weak yuan as a "scapegoat" for its own economic problems.
At a regular briefing, commerce ministry spokesman Yao Jian said China would continue to reform its currency policy, but at its own pace.
The last US treasury report, due in April, was eventually delayed for nearly three months and did not accuse China of manipulating its currency.
`Unreasonable` criticism
The US has not made the claim of currency manipulation since 1994, when China was named by the Bill Clinton administration.
Many analysts believe China is keeping the yuan artificially low in order to help its exporters compete in global markets.
Earlier this year China promised greater "flexibility" in its currency approach, but since then the yuan has only risen slightly in value.
Mr Yao said China would continue with currency reforms, but the speed of reform would be based on China`s domestic economic situation.
He also rejected as "unreasonable" fresh criticism from the Japanese finance minister Yoshihiko Noda.
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