Homepage > Biz Video

China to keep yuan stable in global monetary system

CCTV.com

03-06-2017 09:31 BJT

Full coverage: 2017 NPC & CPPCC Sessions

(Source: CGTN)

In the 2017 government work report, Chinese Premier Li Keqiang spoke highly of the achievements that China's economy has made in surviving growing uncertainties and challenges in the global economy. He also expressed his confidence in the Chinese economy's prospects for 2017.

Chinese Premier Li Keqiang delivers a government work report during the opening meeting of the fifth session of China

Chinese Premier Li Keqiang delivers a government work report during the opening meeting of the fifth session of China's 12th National People's Congress (NPC) in Beijing, capital of China, March 5, 2017. (Xinhua/Pang Xinglei)

Global economic growth in 2016 dropped 0.2% to 3.2% compared to the year 2014, with world trade growth at its lowest level since 2009. Reasons for the slowdown included geopolitical conflicts, political discord, terrorism, and refugee flows. Despite the challenges, Premier Li vowed to push ahead with market-oriented reform in the renminbi exchange rate mechanism, in order to maintain the currency's stable position in the global monetary system in 2017.