China plans to market interest rate for the yuan - the head of the State Council

Almaty. October 23. Silkroadnews - China has taken timely measures to counter the unusual fluctuations in the capital market and successfully warned potential systemic financial risks, says Prime Minister Li Keqiang.
"We will continue to promote the reform and institution-building, ensuring an open, transparent, stable and healthy multi-level capital market", - quotes agency Xinhua the Premier.
According to Li Keqiang, all the measures that are held by China, comply with generally accepted international practice and meet the requirements of the situation inside China.
He added that there are no grounds for long-term depreciation of the RMB, and pointed out that China will expand financial reform in the Shanghai Free Trade Zone, to achieve marketization of interest rates on the yuan and gradually improve the mechanism of formation of the RMB exchange rate.
He also pointed to a new type of urbanization as the most significant factor in the growth of domestic demand in China and expressed the need for China to follow the path of environmentally friendly and sustainable development.