Premier pledges to continue with financial reforms

Premier Li Keqiang pledged on Thursday during a meeting with a former senior United States official to continue market-oriented financial reforms and to expand reform trials.

In talks in Beijing with Henry Paulson, former US secretary of the treasury, Li said financial trials will be expanded in the China (Shanghai) Pilot Free Trade Zone and liberalization of the renminbi will press ahead.

There is no basis for continued depreciation of the renminbi, and reform of the currency's central parity rate quotation mechanism is in line with the changes brought by global market turbulence, the premier said.