China has ample foreign exchange reserves to satisfy the demands of imports and short-term debt repayments, Premier Li Keqiang said at a news conference on Wednesday.

China does not want to resort to yuan depreciation to boost exports as that would dampen the restructuring and upgrading of the corporate sector, he said.

"We also do not want any trade war with others and we have stuck to reform of the yuan's exchange rate formation mechanism to keep it basically stable at reasonable and equilibrium levels."