FXStreet (Mumbai) – Addressing a dozen of US business leaders in his visit to the US on Wednesday, China’s President Xi Jinping sounded quite optimistic on the China’s economic prospects.
Key Quotes:
China economy still in reasonable range
Economy faces certain downside pressure
No basis for continuous yuan depreciation
Depreciate yuan to boost exports
Against competitive depreciation, currency war
Govt measures on stock mkt prevented risks
Govt measure on stock mkt contains panic sentiment
Govt to continue with reforms/opening up
(Market News Provided by FXstreet)