Global Economic Recovery

: Li said international market instability has increased the uncertainties around the global economic recovery, and the impact on China financial market and imports and exports has also deepened, with the economy facing new pressure, according to Euro News. He defended China efforts to steer through a volatile period since mid-June, when China stock market plunged. The premier, in remarks published late Saturday after a special cabinet meeting, said China is continuing to steadily manage its economy. On Friday, Shanghai benchmark index <.SSEC> was nearly 38 percent below where it was on June 12. The yuan will stay basically stable as a reasonable and balanced level, he said. The premier reiterated earlier remarks that there no basis for continued depreciation of the yuan following its devaluation on Aug. 11. (news.financializer.com). As reported in the news.