The U.S. Treasury semi-annual currency report showed that RMB had "significantly undervalued" and is accusing the Chinese government of great intervention in foreign exchange market that lead to RMB depreciation. However, ANBOUND noticed that foreign ministry, administration of foreign exchange and the media did not provide positive response regarding the accusation. It is expected to be increasingly difficult for China to respond to the accusation of intervention if RMB keeps depreciating while the foreign reserve remains no reduction over the same period.