China will not resort to massive stimulus, yuan devaluation: PM Li

Beijing

CHINA will not resort to a massive stimulus as it did in 2008 to boost its economy, Prime Minister Li Keqiang said in his opening speech at the summer edition of the World Economic Forum held in Tianjin on Wednesday.

To a floor of mostly Chinese and foreign business executives, he said China was facing challenges both at home and overseas, and that it will aim to keep its growth rate at a medium- to-high level.