The bank said it will work with related bodies on the issues raised by the US Treasury in a cooperative manner. The bank is to implement its monetary policy to contain inflation, stabilize the macroeconomy, sustain reasonable economic growth, and flexibly regulate exchange rates, all are in line with macro balances and market developments, not aimed at creating an unfair competitive edge in international trade.
US Department of the Treasury said in a press release on its website: “Treasury found that ten major trading partners warrant placement on Treasury’s ‘Monitoring List’ of major trading partners that merit close attention to their currency practices: China, Germany, Ireland, Italy, Japan, Korea, Malaysia, Singapore, Switzerland, and Vietnam.”
