Brexit heightens global uncertainty, says China’s Premier Li Keqiang

Li also called for global efforts to cope with challenges, the global economic recovery and boost investor confidence.

Despite market speculation that the renminbi would depreciate further, Li repeated that the country’s economic health did not warrant devaluation and said the currency would remain stable.

Economist Nouriel Roubini, known for predicting the U.S. real estate crash, said that Brexit could be “the beginning of the disintegration of the European Union”, but added he did not expect a financial crisis or global recession. Europe is an important partner of China and Beijing expects not only a solidary and stable European Union, but also a stable and prosperous United Kingdom, state-run Xinhua news agency reported.

Li said China’s economy is operating in a stable way and the job market remains healthy.

China is the world’s biggest trader but exports as a share of the economy declined a year ago to 22 percent from 2007’s 33 percent.

It comes at a time when private investment in.

The government will also continue to cut excess capacity in steel and coal sectors in “a market-oriented and lawful” manner, he vowed. Such companies must take measures to make sure workers can be re-employed and local governments should help take care of those staff, he said.

Chinese Premier Li Keqiang prepares to meet Kyrgyzstan’s Prime Minister Sooronbay Jeenbekov during the World Economic Forum in Tianjin, China, June 27, 2016.

“Growth of 6.5 percent is still very impressive in the current global economic environment”, said Dennis Wijsmuller, chief operating officer of Arqaam Capital, an investment bank in the United Arab Emirates.

Speaking at an event in Tianjin this week, Airbnb’s head of global operations, Varsha Rao, told the Xinhua news agency that the traditional mould of Chinese travellers is changing, and that Airbnb is capitalising on this shift.

I have to say Europe is an important partner for China.

These include Internet-focused industries, wealth-driven consumption and green technology, according to him.