By John Shaw

WASHINGTON (MNI) - U.S. Treasury Secretary Timothy Geithner said Thursday that he is not certain if China is committed to implementing currency reforms in the short-term.

In testimony to the Senate Finance Committee, Geithner said the administration is trying to persuade China to "move as quickly as possible" on currency reform.

But in a striking admission, he said that he is not certain what Chinese officials are planning to do.

"I do not know if we are at the point now where we will see meaningful progress in the short-term," Geithner said,

"It is very important to us that we see that," Geithner added.

Geithner said that the administration continues to work with other nations in the G-20 to encourage China to make currency reform.

"We are working very closely with the countries in the G-20," he said.

"It's in China's interest to move," Geithner said, but reiterated that China is a sovereign country and retains the right to reform it's foreign exchange policies or not.

Geithner said it made sense to delay the release of Treasury's international economic report and foreign exchange report which was due on April 15.

He said the delay of the report made sense given that he was in the middle of important talks with Chinese officials.

"In this case it was the right thing to do," Geithner said.

When asked if the report, when released, will call China a currency manipulator, Geithner declined to say.

"We will make that judgement when we release that report," he said.

The members of the Finance Committee made it clear that they have lost patience with China's actions on currency reform.

Sen. Chuck Schumer said he said he is determined to move forward with a currency bill in the coming weeks and predicted it would attract strong support.

"We have not made progress," said Schumer.

Geithner said he understands that there is "very broad bipartisan support" in Congress for pressing China on currency reform.

But he pointedly declined to back the effort that Schumer is leading.

Geithner spoke positively about the continued growth being seen in China's economy, noting it's domestic demand is growing faster than GDP. China must now reinforce this emphasis on domestic demand, he said.

Economic growth in China can have a "powerful effect" on U.S. manufacturing, Geithner said.

** Market News International Washington Bureau: (202) 371-2121 **