US Treasury official to visit Beijing
China Daily | Updated: 2011-10-01 08:21
Washington - A top US Treasury official was on her way to Beijing on Friday ahead of votes in the US Senate next week on legislation to crack down on Chinese currency practices.
"While there, Under Secretary (Lael) Brainard will address China's recent efforts to strengthen domestic demand-led growth and create a more level playing field for American workers and businesses, in order to sustain the global recovery," the US Treasury Department said in a statement.
"She will also reiterate that while the renminbi has appreciated 10 percent adjusted for inflation since June 2010, the currency remains substantially undervalued, and more progress is needed," it said.
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