Clarified work division crucial for int'l organizations

Clarified work division is crucial for international organizations, and the World Trade Organization (WTO) has never set any Dispute Settlement Panel (DSP) for exchange rate, said an official with the Ministry of Commerce (MOC) on Thursday. Assistant Minister of Commerce Yu Jianhua made the comment at a press briefing of the State Council Information Office in response to a question about international concerns over China's currency, the yuan. Media reported on Wednesday that the WTO would examine whether international trade rules cover efforts by governments to manipulate the value of their currencies, a debate driven by China's currency policy. "The WTO so far has never set any single DSP for exchange rate," said Yu. "Work division in international organizations must be cooperative but clarified." Currency policy takes account of trade protectionism, rising material costs and the bearing capabilities of enterprises, especially medium-sized and small ones, Yu added.