Offshore Yuan Rises for Fourth Day as Li Signals No Hard Landing

The offshore yuan climbed for a fourth day after top Chinese officials said the nation will avoid a hard landing following 2014’s slowest growth in 24 years.

While the economy will face pressures in 2015, there won’t be a systemic financial risk and authorities will seek to improve the quality of growth to ensure an “appropriate” pace of expansion, Premier Li Keqiang said Wednesday at the World Economic Forum in Davos. People’s Bank of China Governor Zhou Xiaochuan said at the same conference that the central bank is confident the economy is stable.