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China’s Li ‘Gravely Concerned’ at U.S. Yuan Bill, Xinhua Says

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Oct. 14 (Bloomberg) -- China is gravely concerned about the potential passage of U.S. legislation letting companies seek duties to compensate for an undervalued yuan, Vice Premier Li Keqiang said, according to Xinhua News Agency.

Politicizing economic and trade issues can only harm China-U.S. ties and obstruct the global recovery, Li told visiting former U.S. Secretary of State Condoleezza Rice today, according to the state-run news agency.

Li also called on the U.S. to bear in mind the overall interests of bilateral relations, respect China’s core interests and grave concerns and properly handle sensitive issues, Xinhua reported.

The currency bill, passed by the U.S. Congress this week, will now move to the House of Representatives.

To contact Bloomberg News staff for this story: Bloomberg News in Beijing at dzhang14@bloomberg.net

To contact the editor responsible for this story: Andreea Papuc at apapuc1@bloomberg.net

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