China rejects claims of IP theft, exchange rate manipulation

China has rejected allegations of intellectual property theft and exchange rate manipulation to attack the U.S. economy. Chinese Foreign Ministry spokesperson Zhao Lijian said on Tuesday that "China has always fulfilled its responsibilities as a major trading country. The improvement of its business environment is obvious to all. As for the issue of exchange rate manipulation, that's even more nonsensical. Authoritative institutions such as the International Monetary Fund recognize that the Renminbi exchange rate is consistent with China's economic fundamentals, and there is no obvious overestimation or underestimation."