China off US list of 'currency manipulators'

Spokesman says Washington's conclusion in line with facts, international consensus

The United States removed the label of "currency manipulator" from China on Monday, a move that a leading US expert called "just recognizing reality" and will be welcomed by investors.

The US Treasury Department said in a report to Congress that no major US trading partner currently meets the relevant legislative criteria for currency manipulation.

Noting that the department assessed developments over the last few months with China and its currency practices, Treasury Secretary Steven Mnuchin said that "China has made enforceable commitments to refrain from competitive devaluation, while promoting transparency and accountability".