Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Geithner plans China sidetrip

By David Ellis, staff writer

NEW YORK (CNNMoney.com) -- Treasury Secretary Timothy Geithner will meet with a top Chinese official this week, possibly opening the door to a discussion over the value of China's currency.

Geithner, who has been in India this week, will add a trip to Beijing to meet with Vice Premier Wang Qishan on Thursday.

Treasury Secretary Timothy Geithner

"The Secretary and Vice Premier have been working together to find an opportunity to meet in person for some time," Treasury spokesman Andrew Williams said in a statement to CNN.

The focus of the talks is unclear. However, it's expected that the value of the yuan could be the main topic of their discussion.

A number of U.S. officials have blasted the Chinese government in recent months for allegedly undervaluing its currency. China has denied such accusations.

The low exchange rate keeps Chinese exports cheap and has been blamed for the widening trade gap between China and the United States, as well as the loss of manufacturing jobs in the United States.

The yuan, which has been pegged to the dollar for several years now, is about 20% to 40% below where it would be if the currency were allowed to float freely, according to economists' estimates.

News of the Geithner's meeting with China came just days after the Treasury delayed the release of a report to Congress on the exchange rate policies of its major trading partners.

The report, originally slated for April 15, names those countries it believes to be "currency manipulators." Many have wondered whether China could be included in that list, which would further strain relations. To top of page

Overnight Avg Rate Latest Change Last Week
30 yr fixed3.92%3.92%
15 yr fixed2.99%2.98%
5/1 ARM3.26%3.12%
30 yr refi4.01%3.98%
15 yr refi3.08%3.04%
Rate data provided
by Bankrate.com
View rates in your area
Find personalized rates:
Index Last Change % Change
Dow 17,798.49 -14.90 -0.08%
Nasdaq 5,127.53 11.38 0.22%
S&P 500 2,090.11 1.24 0.06%
Treasuries 2.22 -0.01 -0.31%
Data as of 4:32am ET
Company Price Change % Change
General Electric Co 30.36 0.00 0.00%
Bank of America Corp... 17.48 0.04 0.23%
HP Inc 12.61 -0.03 -0.24%
Pfizer Inc 32.79 -0.08 -0.24%
Walt Disney Co 115.13 -3.54 -2.98%
Data as of Nov 27


Sumner Redstone, the media mogul who controls Viacom and CBS, is at the center of a legal dispute. One side says he is practically unable to make decisions for himself. The other says he is "engaged and attentive." More

Gold futures hit a low of $1,051.60 an ounce, yet another reminder of just how out of favor gold has become since its all-time high of nearly $1,890 in 2011. More

Watsi crowdfunds donations to cover healthcare costs of those in need. And it's seeing a surprising trend: micro-donations via the popular Chinese social networking app, WeChat. More

Hive, a startup funded by the UN, is tasked with getting more Americans engaged with the refugee crisis. More

Shoppers around the country braved the crowds to get their hands on the best Black Friday deals. More