Premier Li sees stable renminbi exchange rate

Premier Li Keqiang said China is capable of and confident in keeping the renminbi exchange rate stable at a reasonable and equilibrium level, when meeting with leaders of six key international organizations, such as the International Monetary Fund, on Tuesday.

The premier said the Chinese economy has stable fundamentals with stably growing foreign investments, balance of international payments and affluent foreign exchange reserves. China will adhere to marketized reform and will not depreciate its currency in a competitive way.

Li said the country has rich experience and diverse tools to encounter external impact.