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China's Premier Li: China will not devalue Yuan to boost exports

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 24, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    China Premier Li contines to cross the wires, saying that the country will not devalue its currency to boost exports.

    Headlines

    China will continue to streamline administration

    China will provide easier market access

    In 2016, china may reduce taxes by over 500 billion yuan

    China will support high end services sectors

    China is facing a reduction in our fiscal revenue

    China is still trying to create new growth engines

    China will adopt market based approaches to reduce companies' leverage

    Says RMB exchange rate will remain stable

    There is no basis for long term depreciation of the exchange rate

    China will not devalue the RMB to boost exports

    Depreciation would not help Chinese companies to be more competitive
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