China’s Premier Li: China will not devalue Yuan to boost exports

By FXStreet China Premier Li contines to cross the wires, saying that the country will not devalue its currency to boost exports.

Headlines

China will continue to streamline administration

China will provide easier market access

In 2016, china may reduce taxes by over 500 billion yuan

China will support high end services sectors

China is facing a reduction in our fiscal revenue

China is still trying to create new growth engines

China will adopt market based approaches to reduce companies’ leverage

Says RMB exchange rate will remain stable

There is no basis for long term depreciation of the exchange rate

China will not devalue the RMB to boost exports

Depreciation would not help Chinese companies to be more competitive
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Source:: FX Street