Beijing, October 18 (KCNA) -- The China Chamber of International Commerce rejected the 2011 Currency Exchange Rate Oversight Reform Act passed through the U.S. Senate.

In its recent statement the chamber said the act is very unfair and contrary to the relevant rules of the World Trade Organization (WTO).

It can not solve such U.S. problems as trade deficit and high unemployment rate but will seriously affect China-U.S. trade, the statement added.