Yuan reform to continue: ministry

China's foreign ministry said on Tuesday that the country was committed to reform on the yuan exchange rate, after the US warned that the recent depreciation of the Chinese currency could raise "serious concerns" if it signaled a -policy shift away from allowing -market-determined exchange rates.

"We will continue to resolutely push forward reform of the renminbi exchange rate mechanism," Chinese Foreign Ministry spokesman Hong Lei told a media briefing in Beijing on Tuesday.

A senior official from the US Treasury Department suggested on Monday that the US was not completely sold on China's intention to reduce authorities' interventions in exchange markets.

"If the recent currency weakness signals a change in -China's policy away from allowing adjustment and moving toward a market-determined exchange rate, that would raise serious concerns," the official, who asked not to be named, told journalists in a phone call.

In comments that outlined US positions before meetings later this week of the IMF and between Group of 20 (G20) nations, the official noted that the widening of China's -currency trading band came just after a drop in the yuan's value that coincided with reports of "considerable intervention" in exchange markets by Chinese authorities. That is exactly the sort of behavior Washington wants Beijing to ditch.

The US has been pressing China for years to allow its currency to trade at stronger values.

Last month, US Treasury Secretary Jack Lew welcomed a decision by China to allow its currency to vary more against the dollar in daily trading.

A weak yuan makes Chinese exports cheaper for US consumers at the expense of US producers. A weaker yuan also makes Chinese consumers less able to buy foreign goods.

The yuan strengthened 30 basis points to 6.1527 against the US dollar on Tuesday, according to data from the China Foreign Exchange Trading System.

In China's foreign exchange spot market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.

The US also appears likely to pressure Europe at the -meetings to act more decisively to fix its troubled banking sector.

The Treasury official said recent economic data from Europe showed the region was experiencing "chronic low inflation and weak demand." That appeared to be a nod to growing concerns that Europe's economy is so weak it risks falling into deflation - a -dangerous spiral of falling prices and -wages.

"More needs to be done to support growth," the Treasury official said.