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Premier Li says world needs policy coordination

The world must step up its global macro-economic policy coordination. That was the word on July 22 from Premier Li Keqiang after a meeting with the heads of the International Monetary Fund, the World Bank, and other senior global economic officials.

Premier Li also said China’s sound economic fundamentals remain unchanged despite strong downward pressure. He spoke ahead of a meeting of G20 finance ministers and central bank governors in Chengdu this weekend.

The Premier also said that China is ready to act as one of the few developing countries that still has ample ammunition left for additional fiscal and monetary policy stimulus.

“China will push forward its exchange rate reform for the yuan, to keep the currency relatively stable within a trading band. China will never join any currency war or trade war,” he said.