China rejects US threat on yuan

A threatened US bill which would give China six months to revalue its exchange rate before facing sanctions was criticised as the wrong way to handle the situation.

"We believe this is not a way to resolve differences," foreign ministry spokesman Kong Quan told a regular briefing.

"Every country's economic and financial policies are implemented and established based on the country's specific situation," he said.

AFX reported that at least a dozen US senators are said to have agreed to co-sponsor

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