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Premier Li defends China’s exchange rate adjustment

Updated: Sep 9,2015 9:25 PM

Premier Li Keqiang said that China is innocent of charges of adjusting its RMB exchange rate.

The Premier made the remarks while meeting with global business leaders at the Summer Davos Forum in Dalian on Sept 9.

He said that since the start of his administration, the real effective exchange rate rose 15 percent. Many currencies have slipped sharply against the US dollar. It’s the international market trend that led China to make a minor adjustment in the central parity system.