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