Premier reassures Lagarde RMB will stay stable

The Chinese government "has no intention to boost exports by devaluing the renminbi, not to mention waging a trade war", Premier Li Keqiang told International Monetary Fund chief Christine Lagarde during a telephone call on Thursday morning.

Li also said China "is able to maintain continued, steady growth of its economy" in their conversation about the economic and financial situation in China and around the world.

Observers said Li's comments will help dismiss doubts in the market over alleged currency manipulation by China and its future economic prospects. The country's economy, which grew by 6.9 percent last year, still faces downward pressure.