Currency deal with US possible

China hopes that other nations will see the renminbi's exchange rate "in a right manner", a Foreign Ministry spokesman said on Tuesday, in response to news that Washington may be exploring ways to avoid a confrontation with Beijing over currency.

The issue again rose to the surface with the swearing in on Monday of Steven Mnuchin, as US treasury secretary. Mnuchin, who has called China a currency manipulator, was promptly sworn in after his confirmation by the US Senate.

Analysts said dialogue between China and the US will be of vital importance during the next two months, given that Washington is set to issue its next report evaluating the foreign exchange practices of major trading partners on April 15.