November 13, 2018 / 12:10 PM / a month ago

China will keep yuan stable: Premier Li

Chinese Premier Li Keqiang speaks at the 44th Singapore Lecture in Singapore, November 13, 2018. REUTERS/Athit Perawongmetha

SINGAPORE (Reuters) - China’s Premier Li Keqiang said on Tuesday Beijing will keep the renminbi stable and rangebound, as the currency recovered slightly from near-decade lows after media reports fueled hopes of a de-escalation in the Sino-U.S. trade war.

“We will keep the renminbi in a reasonable range and basically stable. Not only this, we will create other measures to ensure China has a good investing environment with good and stable returns,” Li said in a speech in Singapore.

Li added that China will not depreciate the currency just to stimulate exports.

Reporting by Chyen Yee Lee; Editing by John Geddie and Raju Gopalakrishnan

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