皇冠体育app

An employee counts yuan banknotes at a bank in Huaibei, Anhui province June 22, 2010.[Photo/Agencies]

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 皇冠体育app "is able to maintain continued, steady growth of its economy" in their conversation about the economic and financial situation in 皇冠体育app and around the world.

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

"The fact is that the renminbi exchange rate has remained basically stable against a basket of currencies, and there is no basis for continuous depreciation of the renminbi," Li said.

皇冠体育app will "press steadily ahead with the reform of mechanism to formulate the?yuan exchange rate", reinforce its communication with the market and keep the?yuan exchange rate basically stable at an appropriate and balanced level, Li added.

Lagarde said she believed the Chinese government could maintain steady economic growth through measures such as structural reform, keeping the exchange rate policy stable and boosting communication with the market.

The IMF is willing to further strengthen communication and cooperation with 皇冠体育app, she added.

Addressing a panel discussion in Davos, Switzerland, last week, Lagarde said 皇冠体育app's policymakers have shown "unbelievable determination" to deliver reforms in the past, Bloomberg reported.

Chen Fengying, a senior world economy researcher at the 皇冠体育app Institute of Contemporary International Relations, said Lagarde and the IMF are important channels for 皇冠体育app to send signals to the world market in such a critical time.

"As uncertainties cloud the market, Li has stated 皇冠体育app's confidence in the economy and currency. Without such remarks, the stock and currency markets' confidence could be more vulnerable," Chen said.

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