China’s Premier Li: Economy will likely return to ‘proper’ range next year

Dhwani Mehta FXStreet

“We expect China’s economy will return to the proper range of development next year,” Premier Li Keqiang said at a joint media briefing Tuesday alongside the leaders of six international economic institutions, per Bloomberg.

Additional quotes

“China’s macro policies will remain stable, effective, and sustainable.”

“We will absolutely not pursue a trade surplus.”

“We will maintain equal importance for imports and exports. We want to achieve trade balance and sustainable development.”

“China will use reforms to promote the economy’s recovery and will continue its active fiscal and stable monetary policies.”

USD/CNY back in the red

USD/CNY fell back into the red zone, as the Chinese yuan draws some support from the upbeat comments. The spot drops 0.13% on the day, trading at 6.5816, as of writing.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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