Premier Li Keqiang met with Suma Chakrabarti, president of the European Bank for Reconstruction and Development (EBRD), on Jan 15 in Beijing.

Regarding Chakrabarti’s visit to Beijing as the formal kickoff of China’s membership in the EBRD, the Premier proposed to support strengthening economic ties between China and Europe through cooperation in the Belt and Road Initiative, production capacity and third-party market development.

[Photo/Xinhua]

Meanwhile, the Premier briefed Chakrabarti on China’s recent financial reform, saying it is aiming to establish a regulatory framework to prevent systemic risks, which at the same time suits the development of modern financial markets.

China has no intention to stimulate exports through competitive currency devaluation, and there is no basis for the RMB to continue exchange rate depreciation, said the Premier.

China is able to keep the RMB exchange rate stable at a reasonable and balanced level, Premier Li added.

Chakrabarti said the EBRD will take China’s joining as an opportunity to help integrate the development strategies of China and European countries, and it would like to work with China on other multilateral financial institutions such as the Asian Infrastructure Investment Bank.