China economy on steady upward trend, says Premier Li Keqiang
[BEIJING] China's economy has shown a steady upward trend and has huge room for maneuver while there's no basis for a sustained depreciation of the nation's currency, said Premier Li Keqiang.
Mr Li, speaking as he met with President Barack Obama in New York, said the yuan will stay basically stable and at a reasonable and balanced level. Those comments echo the government's recent commentary on the currency.
Mr Li's expression of confidence in the nation's economic outlook follow similar signals from the central bank this week.
Better-than-expected lending and money supply data for August show the economy has bottomed in its "L-shaped" recovery, a central bank newspaper said in a front-page commentary on Monday.
BLOOMBERG
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Labour mayor wins cap triumphant election run for Starmer
100 years on, SICCI to focus on internationalisation, digitalisation and sustainability
Microsoft bets big on South-east Asia, pledges billions in AI and cloud investments
Putin plans to meet Xi in China days after his new term starts
Biden vetoes bid to repeal US labour board rule on contract, franchise workers
Economic leaders of South Korea, Japan, China say FX volatility is a risk