BEIJING - China deeply regrets the US Treasury's decision to label China "a currency manipulator," the People's Bank of China said Tuesday.

Such a label on China does not meet the quantitative criteria for the so-called "currency manipulator" set by the US Treasury, the central bank said in a statement.

The US labeling is an arbitrary unilateral and protectionist practice, which seriously damages international rules and will significantly impact the global economy and financial markets, it said.