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BEIJING, May 4 (Xinhua) -- Chinese Premier Li Keqiang has backed the United Nations playing a bigger role in international affairs as the 70th anniversary of the organization draws near.
In a highly symbolic gesture, they walked from Savoy Homann Hotel to Gedung Merdeka, or the Independence Building, where the landmark gathering took place 60 years ago, to demonstrate their determination to remember and carry forward the Bandung Spirit of solidarity, friendship and cooperation.
Li Keqiang: China has been advancing the reform of the RMB exchange rate formation mechanism to widen the RMB floating band and improve the market-based, managed exchange rate regime. For some time, there has been slight devaluation of the Chinese currency. But this is not because of the steps taken by the Chinese side, but because of a stronger US dollar. I believe the current value of the RMB is basically stable. We don’t want to see further devaluation of the Chinese currency, because we can’t rely on devaluing our own currency to boost export. Instead, what we need is to boost our domestic demand. Otherwise, it will be difficult for us to adjust our economic structure. We don’t think companies in China should mainly rely on a devalued Chinese currency to boost export. Instead, they should focus on enhancing their competitiveness by raising the quality of products and making technological innovations. At the same time, we hope that all major economies will enhance coordination on macroeconomic policies. We don’t want to see a scenario in which major economies trip over each other to devalue their currencies. That will lead to a currency war. And if China feels compelled to devalue the RMB in this process, we don’t think this will be something good for the international financial system. This may ultimately lead to trade protectionism and impede the globalization process. This is something we don’t want to see.
China is the biggest contributor of peacekeepers among the five permanent members of the UN security council and currently has more than 2,700 peacekeepers posted in the UN's nine mission areas. The number will reach 3,100 by the end of this year.
A special meeting will commemorate the 60th anniversary of the Bandung Conference in 1955, and an international seminar on United Nations chapters and post-war international order are scheduled to take place on the sidelines of the AALCO session, Hua said.