Chinese Foreign Ministry Spokesman Liu Jianchao said in Beijing Thursday that China appreciates the newly-released U.S. current report, which didn't list China as a currency manipulator.

Liu made the remarks when commenting on the contents of the report relating to China at the request of journalists.

He said the report, released by the U.S.Treasury Department on May 10, has noticed China's efforts in extending domestic demands, establishing a more flexible foreign exchange market and stepping up financial reforms.

The exchange rate of RMB against US dollars has appreciated 3.4 percent by May 10 since the currency reform was introduced last year, according to Liu.

He said that the exchange rate of RMB against US dollars not only falls but also rises, adding that the two-way floating exchange rate and the increased flexibility of RMB has reflected the fluctuations of major international currencies, and the exchange rates are adjusted on the reference of a packet of currencies and based on market supplies and demands.

Liu said that China is furthering its economic reform, increasing domestic demands and adjusting the economic structure, and it will better its manageable floating currency mechanism, in accordance with the address by President Hu Jintao in his US visit in April this year.

Source: Xinhua