WASHINGTON, May 19 (Xinhuanet) -- The US Treasury Department announced on Thursday that it appointed a special financial envoy to China in a bid to press China for its currency reform.

    US Treasury Secretary John Snow appointed Olin Wethington as his special envoy on China, a new position that will focus heavily on financial diplomacy with China's economic officials, said US Treasury Department spokesman Tony Fratto.

    It is the latest in a series of developments advanced by the US government over the past week to intensify pressure on China to change its currency and trade practices.

    Chinese Premier Wen Jiabao said on Monday that China regards the reform of the exchange rate of Renminbi (RMB) as an issue of sovereignty and will never yield to any external pressure to change it. Enditem