WASHINGTON Nov 27 The U.S. Treasury on Tuesday
said China's currency remained undervalued, but stopped short of
labeling the world's second-biggest economy a currency
A Treasury official said China had allowed the yuan to
appreciate 9.7 percent in nominal terms since June 2010, in the
department's semi-annual currency report.
The Chinese government had also "substantially" reduced its
intervention in exchange markets since the third quarter of 2011
and loosened capital controls, the Treasury said in its report,
which examines the foreign exchange practices of major U.S.
"In light of these developments, Treasury has concluded that
the standards identified in (the Act on currency manipulators)
have not been met with respect to China," Treasury said.
"Nonetheless, the available evidence suggests the renminbi
remains significantly undervalued."