Yuan value at issue in trade fight

Beijing - A top Chinese legislator criticised the US on Friday for its "ungrounded" demand for faster yuan revaluation and urged the US to rethink its trade policies, amid growing concerns about increasing trade frictions between the world's two major economies.

He Keng, vice chairman of the Financial and Economic Committee of the National People's Congress, criticized the US blaming China's exchange rate policy for its trade deficit. "I've told some US legislators that their deficit with China has been caused by their trade policies, not the yuan's exchange rate."

He said the real reason is that the US restricts exports of some products to China.