Chinese Foreign Ministry spokesman Ma Zhaoxu said the yuan was appropriately valued, and that China did not deliberately pursue a trade surplus with the United States.

the Ministry spokesman told journalists at a regular news briefing in Beijing looking at international balance of payments and forex market supply and demand, the level of the yuan is close to reasonable and balanced.

he pointed out that the rate of the yuan is not the main cause of the trade deficit between the U.S. and China.

U.S. President Barack Obama said earlier that his administration was pushing China to enforce trade rules and further open its markets to ensure American goods did not face a competitive disadvantage.

The latest statement from the U.S. adds to a range of issues weighing on relations between the world´s biggest and third-biggest economies.

U.S. manufacturers have complained for years China´s currency policies give local companies an unfair price advantage. China says exchange rate policy is an internal matter.