China not to use yuan depreciation to boost export

Beijing, Sep 9 (IANS) Chinese Prime Minister Li Keqiang on Wednesday said China has no intention of boosting export through the depreciation of yuan.

China is not willing to see a currency war, as it will be harmful to China, Xinhua quoted Li as saying.

Using yuan depreciation to boost China’s export does not accord with the structural readjustment of the Chinese economy, Li said.

Li said export businesses also want the yuan to remain stable.

Addressing global business leaders, Li said there is no basis for continuing the depreciation of Chinese yuan.

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