China's central bank chief laid the groundwork for an appreciation of the renminbi at the weekend when he described the current dollar peg as temporary, striking a more emollient tone after months of tough opposition in Beijing to a shift in exchange rate policy.

Zhou Xiaochuan, governor of the People's Bank of China, gave the strongest hint yet from a senior official that China will abandon the unofficial dollar peg, in place since mid-2008. He said it was a “special” policy to weather the financial crisis.

“This is a part of our package of policies for dealing with the global financial crisis. Sooner or later, we will exit the policies.”

Mr Zhou's comments contrasted with recent Chinese comments on its currency policy in the face of international criticism that the renminbi is undervalued. In December, Premier Wen Jiabao said: “We will not yield to any pressure of any form forcing us to appreciate.” Chinese officials have repeatedly emphasised the need for a stable exchange rate.

However, while the recent increase in consumer prices in China has strengthened the hand of those officials who think the currency should now rise, it is not clear that this argument has yet won over the country's senior leaders.

Indeed, Mr Zhou gave no hint about the possible timing of a shift in policy and said any change would be introduced with caution.

Chen Deming, Commerce minister, said the outlook for international trade remained “uncertain and unstable” and that it would take two or three years before Chinese exports recovered to pre-crisis levels.

The argument over Chinese currency policy has been one of a string of disputes that have led to difficult relations in recent months between China and the US, including disagreements over Taiwan, Tibet, climate change and human rights.

Mr Zhou's different tone on the exchange rate came as the foreign minister said it was up to the US to improve relations between the two countries.

At a separate Sunday press conference on the margins of the National People's Congress in Beijing, Yang Jiechi, foreign minister, said: “The responsibility for the difficulties in China-US relations does not lie with China. The US should take seriously China's position and respect China's core interests.”

He dismissed suggestions that China had been taking a more confrontational approach in diplomacy of late. “Resolutely adhering to one's principled stance is not the same thing as being hardline,” he said.

A long-planned oil pipeline between China and Russia would be completed this year and would begin operations in 2011, he said. Mr Yang also rebutted criticism that China's growing economic ties with Africa were encouraging more corruption and hurting labour conditions.