(Bloomberg) -- China won't engage in currency depreciation that harms other countries, and will keep the yuan stable to aid the global economy, President Xi Jinping said.
The currency will be kept at a “reasonable, equilibrium level” and the market will play a bigger role in setting the exchange rate, Xi said at the opening of the Belt and Road Forum in Beijing Friday.
To contact Bloomberg News staff for this story: Dandan Li in Beijing at dli395@bloomberg.net
To contact the editors responsible for this story: Jeffrey Black at jblack25@bloomberg.net, Daniel Ten Kate
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