US clears China of currency manipulation Veronica SmithAFPThe US Treasury cleared China of official accusations of currency manipulation on Friday, but said progress toward allowing the yuan to appreciate was "insufficient".In a report to Congress, the Treasury said that China, eight other countries and the eurozone were all innocent of charges that they manipulated exchange rates "for purposes of ... gaining unfair competitive advantage in international trade"."Based on the resumption of exchange rate flexibility last June and the acceleration of the pace of real bilateral appreciation over the past few months," China's behaviour did not qualify under the official definition of manipulation, it said in the long-delayed report.Advertisement: Story continues below"Treasury's view, however, is that progress thus far is insufficient and that more rapid progress is needed."It pledged to "continue to closely monitor the pace of appreciation" of the yuan.In addition to China, the Treasury looked at the policies of the eurozone and eight other economies: Brazil, Britain, Canada, Japan, Mexico, South Korea, Switzerland and Taiwan. The 10 together account for about 75 per cent of US trade."Treasury has concluded that no major trading partner of the United States met the standards" of manipulation as identified by the law "during the period covered in this report".The Chinese currency policy has been a major irritant in bilateral relations with the world's second-largest economy, and was a key topic of discussion when President Barack Obama hosted Chinese President Hu Jintao on a state visit last month.The United States accuses Beijing of keeping its currency undervalued, flooding the country with cheap exports and costing US jobs.US legislators have pushed the Obama administration to get tough with China over the yuan.A bill threatening sanctions to punish Beijing's currency policy is lurking in Congress, which has awaited the Treasury report since it was first supposed to appear on October 15.Chinahas pledged to allow the yuan to gain value, but at a measured pace so as not to destabilise its rapidly expanding economy.The Treasury said the yuan, also called the renminbi (RMB), had appreciated 3.7 per cent against the dollar between mid-June and January 27.In fact, it added, weighing the higher rate of inflation in China, "the RMB has been appreciating more rapidly against the dollar on a real, inflation-adjusted basis, at a rate which if sustained would amount to more than 10 per cent per year".A top politician in congress, Max Baucus, head of the Senate Finance Committee, slammed the Treasury's findings."China's currency practices harm ranchers, farmers, and exporters across America and around the world," the senator, a Democrat representing the western state of Montana, said in a statement."China has been given a free pass on its currency practices for far too long. We need tohold China and our other trading partners accountable for their actions, and we must acknowledge - and take steps to remedy - those actions that harm the competitiveness of American businesses and workers."The report came a week ahead of the government's December trade balance numbers. The Commerce Department is expected to report next Friday that the US trade deficit widened to $US50.0 billion ($A49.3 billion) from $US42.6 billion ($A42.01 billion) in November.China has appeared on track to beat its 2008 record trade surplus with the US. Over the first 11 months of 2010, the China trade gap was $US252.4 billion ($A248.88 billion), compared with $US268.0 billion ($A264.26 billion) for all of 2008.资料来源：Veronica Smith，AFP，February 5, 20（.au/breaking-news-business/us-clears-china-of-currency-mani pulation-20110205-1ah94.html）美国清除中国操纵货币维罗尼卡史密斯2011年2月5日法新社美国财政部清除官员的指责中国操纵汇率上周五，但表示对允许人民币升值的进展“不足”。
在给国会的报告，财政部表示，中国，其他八个国家和欧元区的，他们都是操纵汇率清白“为宗旨...抢占国际贸易不公平的竞争优势。
”“基于汇率的灵活性和恢复去年六月的实际双边升值步伐在过去数个月的加速，”中国的行为不符合操纵下的正式定义，它说，在拖延已久的报告。
广告语：下面的故事继续“财政部的观点，但是，迄今为止的进展是不够的，更迅速地取得进展是必要的。
”它承诺将“继续密切监察升值步伐”的人民币。
除了中国，财政部看着欧元区的政策和其他八个经济体：巴西，英国，加拿大，日本，墨西哥，韩国，瑞士和台湾。
10个一起约占美国贸易总额的75。
“财政部的结论是，没有美国的主要贸易伙伴符合标准”的操作由法律确定为“在本报告所涵盖的时期”。
在中国货币政策一直是与世界第二大经济体的双边关系中的重大刺激，是一个讨论的主要议题时，总统奥巴马托管在中国进行国事访问的国家主席胡锦涛上个月。
美国指责保持其货币被低估，充斥廉价出口的国家和北京的美国就业成本。
美国立法者推动奥巴马政府与中国强硬获得超过人民币。
法案威胁制裁，以惩罚北京的货币政策在国会，后者正在等待财政部的报告，因为它是第一个应该出现在10月15日潜伏。