Lew urges openness from China

WASHINGTON — U.S. Treasury Secretary Jacob J. Lew reiterated calls for China to welcome foreign investment, contribute to a “level playing field” in global trade and disclose when and why it intervenes in currency markets.

Lew is in Beijing this week in part to press China to pursue a more market-determined exchange rate, as the U.S. argues less government control would drive the yuan higher against the U.S. dollar. While Lew praised yuan gains since 2010, he questioned in an interview broadcast Tuesday why it’s been allowed to weaken in the past year.