China's Xi says economy within proper range: WSJ

BEIJING - China's economy faces downward pressure but is still operating within a proper range, President Xi Jinping said in an interview with the Wall Street Journal published on Tuesday. Developing capital markets is key goal of China's reform, which will not change just because of current market volatility, Xi also was quoted as saying ahead of a visit to the United States. Exchange rate reforms will continue, and there is no basis for sustained depreciation in the yuan, Xi added. Top Chinese officials have been trying to reassure jittery global markets about their policy goals after a run of soft economic data and China's surprise devaluation of the yuan rattled investors over the past month. -Reuters