China's Premier Li says will keep yuan basically stable

BEIJING (Reuters) - The Chinese yuan's exchange rate will stay basically stable at a reasonable and balanced level, Chinese Premier Li Keqiang said when he met U.S. President Barack Obama in New York, the official Xinhua news agency said.

There is no basis for a sustained devaluation of yuan, Li was quoted as saying, adding that the Chinese economy has shown a steady upward trend and has ample room to maneuver.

(Reporting by Beijing Monitoring Desk; Editing by Eric Meijer)

You May Also Be Interested In

• Exclusive-Chinese military researchers tap US AI models to train defence systems
• Russia's Africa Corps kills Mali civilians in 'indiscriminate' attack, rights group says
• Indonesia arrests Malaysian pilot for allegedly smuggling 26 kilograms of MDMA, customs office says