China tries to cool yuan dispute with U.S.

The announcement, along with conciliatory comments by China's commerce ministry, appeared aimed at cooling an increasingly rancorous dispute which has U.S. senators threatening to slap duties on Chinese products if Beijing does not allow the yuan to rise.

“Channels of communication between our two sides are open. All issues of concern to either side can be discussed through these channels,” He Ning, head of the commerce ministry's North American division, told a media briefing.

But China gave no indication it was ready to abandon its commitment to a stable yuan exchange rate, and market expectations of appreciation remained muted.

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