China will not devalue the yuan to boost exports, said Premier

Almaty. 10 September. Silkroadnews - China will not use devaluation of the yuan to support exports. This was stated by Prime Minister Li Keqiang, informed the agency Xinhua.
"Using the devaluation to stimulate Chinese exports is contrary to the structural transformation of China's economy. China does not wish the currency war, as it will damage the country",- said the Premier at a meeting with global business leaders in the city of Dalian, where passes the World Economic Forum "Summer Davos".
According to him, the situation in China's economy remains a matter of optimism, despite some fluctuations in performance. In the first half, China managed to provide the 7 percent economic growth, which allowed the country to reach the leading position among the world's leading economies.
"Government debt risk is relatively low, and to worry about the debt of the Chinese government is not necessary", - assured Li Keqiang.
According to the Premier, the debts of the central government of China account for about 20% of GDP, 70% of the debts of local governments have investment character, and can expect return.
"There is no reason to continue the devaluation of the yuan", - said Li Keqiang.