"We have noted the comments of Senators (Charles) Schumer and (Charles) Grassley," China's commerce ministry spokesman Chong Quan said in a statement on the ministry website.

"To adopt trade restrictions or trade protectionism will only harm the bilateral interests of Sino-US trade relations and does not conform to the rules of the World Trade Organization.

"To maintain and develop the healthy and stable Sino-US trade relationship is in the interests of the two nations."

Chong was commenting on a decision by the congressmen on Thursday to hold off until next year in crafting the legislation.

Critics of China argue the yuan is undervalued against the dollar by up to 40 percent, lending an unfair boost to Chinese exports and driving thousands of US businesses to the wall.

A bill by Schumer and Republican Senator Lindsay Graham would have slapped a 27.5 percent tariff on all of China's US-bound exports unless the country moved forcefully to revalue its currency.

Meanwhile, a bill by Grassley would have compelled the US administration to veto any increase in the International Monetary Fund vote of a country with a "fundamentally misaligned" currency.

The lawmakers agreed to hold off on the bills after US Treasury Secretary Henry Paulson succeeded in establishing a new "strategic economic dialogue" between the United States and China during a visit to Beijing late last month.