Chinese Prime Minister Li Keqiang announced that the government has no intention to devalue yuan and underestimate the value of the national currency in order to stimulate export growth.
According to Li Keqiang, the government aims to export high quality goods, however, devalued yuan is not going to help along.
The yuan’s forex rate will be set rationally. The People's Bank of China is not interested in a long-term devaluation.
Li Keqiang underlined that the Chinese government understands the interdependence of economies of different countries and realizes China’s profound influence on the global economy.
Earlier, China reduced the yuan’s value by pumping $20 billion into the financial system of the country.
