Premier Wen Jiabao on Sunday strongly argued that the Chinese currency is “not undervalued”, and called out to the other nations “not to pressure China over its exchange-rate policy”.

Speaking at his annual press conference at the close of the Chinese legislature's session, Mr. Wen was careful not to rule out the possibility that the yuan could resume rising, and he reiterated previous government statements that China intends to continue reforming its currency system.

Mr. Wen said, "First of all, I do not think the renminbi (Yuan) is undervalued".

“We are opposed to the practice of mutual finger pointing among countries or taking strong measures to force other countries to appreciate their currencies. To do this is not beneficial to reform of the renminbi exchange-rate regime”, Mr. Wen said in a firm manner.

U. S. Officials and economists alike have categorically stated that the Chinese Government's policy has kept the Yuan gravely undervalued, and have criticized it, explaining that by making its export goods artificially inexpensive, China gives itself an unfair advantage.

Premier Wen also touched on the strained US-China relations, saying that he would “not allow the US to push China on the issues of China and Tibet”. He also alleged that he was “snubbed” at Copenhagen Climate Change Summit in 2009.

Mr. Wen was of the belief that the responsibility of improving relations does not lie with China, but it in fact lies with the United States. “We hope the U. S. will face the issue squarely, in order to restore and improve China-US relations”, he said.