China says it will fend off financial risks, communicate better with markets | Reuters

BEIJING China has many policy tools at its disposal to fend off financial risks and will improve its communication with markets, Premier Li Keqiang said on Monday.

Li told the visiting International Monetary Fund Managing Director Christine Lagarde that China will not rely on yuan depreciation to spur exports.

China will steadily push forward its currency reforms, keeping the yuan basically stable while allowing two-way fluctuations in the currency, Li said in remarks published on the central government's website.

"China disapproves a 'currency war' in the world, which could only harm global economic recovery," Li said.

The government will use "market-oriented means" to help banks keep their capital adequacy ratios at relatively high levels, he said without elaborating.

(Reporting by China Monitoring Desk and Kevin Yao; Editing by Richard Borsuk)

This story has not been edited by Firstpost staff and is generated by auto-feed.


Updated Date: Mar 22, 2016 02:00 AM

Also Watch

Watch: The true stories from Dharavi that inspired Rajinikanth's Kaala
  • Thursday, March 8, 2018 Watch: Cyrus Khan talks about Parkour, jumping across walls and why he hates sitting
  • Thursday, May 31, 2018 Unwind: India's basketball sensation Amjyot Singh has his eyes set on becoming an NBA regular
  • Monday, May 28, 2018 First Day First Showsha — Review of Solo: A Star Wars Story in 10 questions
  • Saturday, May 19, 2018 Social Media Star: Rajkummar Rao and Bhuvan Bam open up about selfie culture, online trolls

Also See