Currency issue not cited

WASHINGTON: The Bush administration has declined to cite China for what is claimed to be currency manipulation to gain an unfair trade advantage against the United States.

A Bush administration report issued Wednesday criticized China for slowing the pace at which its currency was rising in value against the dollar. It also said China must return to a more rapid pace of currency appreciation.

But in the report, which must be submitted to Congress every six months, the administration said China did not meet the standards set in US law for being cited as a currency manipulator.