On August 13, Zhou Wenzhong, Chinese Ambassador to the United States in Washington D.C. sent a letter of reply to Senator Chuck Grassley, ranking republican member on the Committee on Finance, to clarify the Chinese side's position with regard to the Senator's concern about the news that "China threatens to trigger U.S. dollar crash" as reported by some Western media a couple of days ago. Zhou Wenzhong stressed that the Chinese government implements a responsible foreign reserve policy as was reaffirmed the day before in a statement released by China's central bank, the People's Bank of China (PBOC). Zhou also expressed his readiness to work with the Senator to further strengthen the Sino-US constructive relationship of cooperation.