Geithner heads to Beijing for talks (3)

08:33, April 08, 2010      

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But he said he believes that "China's exchange rate policy is mainly China's business".

"I hope that Secretary Geithner and Vice-Premier Wang Qishan will be able to solve the issues in a professional and statesmanlike manner. It is in the interest of both countries and it is also in the interest of other countries".

In another sign of warming bilateral ties, President Hu Jintao is due to hold talks with US President Barack Obama during an April 12-13 visit to Washington for a nuclear security summit.

Obama will raise the currency issue with Hu on the sidelines of the nuclear summit, the White House said on Tuesday.

The Obama administration delayed a report to the US Congress due April 15 in which it had the option of citing Beijing as a currency manipulator, a designation that could lead to possible trade sanctions. The White House denied the delay had anything to do with seeking Chinese support for penalties over Iran's nuclear program.

Zhou Shijian, a senior economist at the China-US relations research center of Tsinghua University, said that although the US Treasury delayed the release of its foreign exchange report, it will continue to press China in that respect.

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