The US government has put its dissatisfaction with what it sees as the artificially low Chinese exchange rate back on the political agenda.
At a meeting in Beijing, US Treasury deputy secretary Sarah Bloom Raskin asked China's Minister of Finance Lou Jiwei, and central bank Governor Zhou Xiaochuan to move to a market-determined exchange rate for the renminbi, the Treasury said.
Beijing authorities keep a firm hand on the renminbi's value. The People's Bank of China sets the dollar-renminbi rate each morning, then guides trading throughout the day.
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