No basis for long-term depreciation of Chinese currency: Premier Li

By Gu Liping (original source Ecns.cn)

“China has taken timely measures to cope with unusual capital market fluctuations, and has successfully forestalled potential systemic financial risks, said Premier Li Keqiang in Beijing on Thursday.

While meeting with former U.S. treasury secretary Henry Paulson, Li spoke about the turmoil in the global financial market this year and the unusual fluctuations on China’s capital market, especially the stock market.

The measures taken by China were in accordance with international practice and China’s own conditions, he added.”

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