China deeply regrets US Treasury labeling China 'a currency manipulator'

A teller counts US dollars at a bank in Jiujiang, Jiangxi Province, east China. (Xinhua)

The U.S. labeling is an arbitrary unilateral and protectionist practice, said China's central bank.

BEIJING, Aug. 6 (Xinhua) -- China deeply regrets the U.S. Treasury's decision to label China "a currency manipulator," the People's Bank of China said Tuesday.

Such a label on China does not meet the quantitative criteria for the so-called "currency manipulator" set by the U.S. Treasury, the central bank said in a statement.

The U.S. labeling is an arbitrary unilateral and protectionist practice, which seriously damages international rules and will significantly impact the global economy and financial markets, it said.