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US Treasury Secretary Begins Visit to China


U.S. Treasury Secretary Henry Paulson has arrived in China for a four-day visit expected to include an appeal for China to speed up reforms to its economy.

Officials say Paulson arrived late Tuesday in the eastern city of Hangzhou in Zhejiang province. There he met with provincial Communist Party leader Xi Jinping. The two met previously when Paulson was chief of the investment bank Goldman Sachs.

The U.S. treasury secretary flew into Hangzhou from meetings in Singapore. Before leaving for China, Paulson warned U.S. critics of Chinese economic policies not to expect a "quick fix" to the issues that divide the two nations.

U.S. lawmakers are considering measures to punish Beijing for its growing trade gap with the United States. U.S. and European officials say China's currency, the yuan, is undervalued, giving Chinese-made products an unfair advantage over foreign competitors.

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