The US Treasury has again declined to label China a currency manipulator, saying the renminbi’s real exchange rate is rising at an annualised pace of 10 per cent.

　　美國財政部再次拒絕將中國列為匯率操縱國，稱人民幣實(shí)際匯率正以10%的年率上升。

　　In a politically sensitive report slipped out on Friday afternoon, the Treasury said high inflation in China meant its true exchange rate had risen rapidly since it was allowed to appreciate last June.

　　美國財政部在上周五下午悄悄發(fā)布的一份政治敏感的報告中表示，中國的高通脹意味著，人民幣真實(shí)匯率自去年6月“二次匯改”以來已大幅上升。

　　The report is further evidence that the issue of renminbi undervaluation has slipped down the agenda after China let its currency rise again, the Republicans regained control of the House of Representatives and Hu Jintao, China’s president, visited the US in January.

　　這份報告進(jìn)一步證明，在中國再次讓人民幣升值、共和黨重新控制眾議院以及中國國家主席胡錦濤今年1月訪美之后，人民幣匯率偏低問題在美方議程上的地位已有所下降。

　　“The report studiously avoids bringing things to a boil by calling China a currency manipulator,” said Eswar Prasad, professor of trade policy at Cornell University. “Exercising that nuclear option at this stage is certainly in nobody’s interest.”

　　康奈爾大學(xué)(Cornell University)貿(mào)易政策教授埃斯瓦爾•普拉薩德(Eswar Prasad)表示：“報告不將中國列為匯率操縱國，是刻意避免激化矛盾。在現(xiàn)階段執(zhí)行該‘非常選擇’，肯定對各方都不利。”

　　But the Treasury continued to say in its report the speed of renminbi appreciation “is insufficient and that more rapid progress is needed”.

　　但美國財政部在報告中補(bǔ)充表示，人民幣升值速度“不夠快，需要加快步伐”。

　　By law, the Treasury must produce semi-annual reports that declare whether important trading partners manipulate their currencies to gain trade advantages against the US. Officials say that China has made enough progress – including changes to its language during Mr Hu’s state visit – that such a declaration is not warranted.

　　美國財政部依法必須每半年提交一份報告，表明重要貿(mào)易伙伴國是否在操縱其本幣匯率、以獲取相對美國的貿(mào)易優(yōu)勢。美方官員表示，由于中國已取得足夠的進(jìn)展，其中包括在胡錦濤對美展開國事訪問期間改變了在人民幣問題上的措辭，因此沒有理由把中國列為匯率操縱國。

　　In a joint statement at the end of the state visit, Mr Hu and Barack Obama, US president, said: “China will continue to promote RMB exchange rate reform and enhance RMB exchange rate flexibility, and promote the transformation of its economic development model.”

　　在此次國事訪問結(jié)束后發(fā)表的聯(lián)合聲明中，胡錦濤和美國總統(tǒng)巴拉克•奧巴馬(Barack Obama)表示：“中國將繼續(xù)堅(jiān)持推進(jìn)人民幣匯率形成機(jī)制改革，增強(qiáng)人民幣匯率彈性，轉(zhuǎn)變經(jīng)濟(jì)發(fā)展方式。”