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The two heads of state are expected to ink a joint statement on strengthening the China-Russia comprehensive strategic partnership of coordination.
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.
BEIJING, May 5 (Xinhua) -- Chinese President Xi Jinping on Tuesday called on officials to view the country's reform drive in the context of "a larger picture" in order to deepen reforms.
Xi emphasized that both countries should insist on mutual respect and equality by respecting each other's core interests and major concern so as to secure sustainable, healthy and stable growth of their links.
CONTRIBUTIONS OF CHINA, RUSSIA TO WWII
来源：资阳报