China's rising corporate leverage shows urgency of accelerating reforms: U.S. treasury official

National flags of U.S. and China wave in front of an international hotel in Beijing February 4, 2010. REUTERS/Jason Lee

BEIJING (Reuters) - China’s rising corporate leverage underscores the urgency for the country to accelerate its market-oriented reforms, the U.S. Treasury said in a press release on Tuesday, citing a U.S treasury official.

The United States should continue to engage constructively with China to support China’s reform agenda, said Nathan Sheets, the Under Secretary of the Treasury for International Affairs.

Sheets made the remarks in Beijing at the China Finance 40 Forum late on Monday.

(This version of the story has been refilled to corrects press release date to Tuesday in first paragraph)

Reporting by Yawen Chen and Ben Blanchard; Editing by Shri Navaratnam