Accessibility links

Breaking News

US Commerce Secretary Urges China to Adopt Flexible Currency

Outgoing U.S. Commerce Secretary Donald Evans is repeating the Bush Administration's call for China to switch to a more flexible system for valuing its currency.

Mr. Evans made the remarks Wednesday in an address to the American Chamber of Commerce in Beijing. The U.S. says China's fixed peg of its currency to the U.S. dollar allows it to export its goods at much cheaper prices.

Mr. Evans says Washington also wants Beijing to loosen regulations on direct selling to consumers so U.S. companies can compete in the Chinese market.

This is Mr. Evans' last official trip to China. He's expected to be replaced later this month by Carlos Gutierrez, who has been nominated for the Commerce job by President Bush.

Some information for this report provided by AFP.