BEIJING May 13 China will not take large-scale
stimulus measures to smooth short-term growth fluctuations, as
the country's basic economic situation has not changed, Vice
Finance Minister Zhu Guangyao said on Tuesday.
Zhu also told a media briefing after a meeting with U.S.
Treasury Secretary Jack Lew that China will take measures to
support growth if needed.
His comments came after official April data showed
across-the-board weakness in activity, with data from output to
investment and consumption all missing market expectations,
sparking new calls for Beijing to ease policies to shore up
Zhu said China has made clear to the United States its
determination to reform its currency regime, and said that the
current direction of China's currency policy is "correct".
In Beijing on Tuesday, Lew said China needed to move to a
market-based exchange rate, following a warning from the Obama
administration last month that the yuan was too
(Reporting By Koh Gui Qing)