The Chinese premier has reassured the head of the International Monetary Fund about China’s ability to maintain the health and stability of its finance system.
Premier Li Keqiang met with IMF managing director Christine Lagarde on Sunday afternoon in Beijing’s Great Hall of the People at the opening of the One Belt One Road summit.
Li said to Lagarde that the Chinese government would continue to implement stable monetary policy, prioritise the prevention and control of financial risk, as well as maintain a balance between maintaining financial stability, gradual delve raging and stabilising economic growth.
“We have the ability to maintain the stability of the Chinese financial markets, and firmly guard baseline against the onset of regional or systemic financial risk,” said Li.
With respect to the Chinese yuan, Li said that China would continue to maintain a “managed floating exchange rate system that has market supply and demand at its foundation, and maintain the basic stability of the RMB exchange rate at a reasonable average level.”
Li gave positive praise to the IMF for the attention and support it had given to China’s economic development and transition, and conveyed China’s willingness to strengthen policy communication and coordination with the IMF in multiple areas, as well as expedite economic globalisation, trade investment liberalisation and multi-lateral cooperation.
