Chinese RMB exchange rate to remain reasonable and balanced: Chinese premier

BEIJING, Nov. 6 (Xinhua) — China has the foundation, ability and confidence to maintain the RMB exchange rate at a reasonable and balanced level, Chinese Premier Li Keqiang said on Tuesday.

He made the remarks when holding the third “1+6” Roundtable in Beijing with leaders of major international economic institutions.

China has sound economic fundamentals, stable growth of foreign investment, balanced international payment and sufficient foreign exchange reserves, said Li.

He stressed that China will adhere to market-oriented reforms and will not engage in competitive devaluation.

“We have a wealth of experience and enough tools to address external shocks,” Li said.

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