China's Li says they will not resort to competitive currency devaluation

Author: Mike Paterson | Category: News

Chinese premier Li speaking in Beijing 12 Sept

  • will not boost exports via yuan depreciation
  • welcomes foreign investment into China
  • China's leverage has stabilised and shown some declines
  • will stabilize macro policy
  • China will add 13m new urban jobs this year
  • overall govt debt "controllable"
  • China's economy will keep steady, improving trend
  • countries should maintain free trade
  • countries can not rely on QE to support growth, should rely on structural reforms
  • world economy shows positive signs but still fragile

Li is meeting with heads of global organizations inc IMF and World Bank.

   Li- No to ccy devaluation