China won’t allow “roller-coaster rides” in its markets after Brexit-Premier Li

BEIJING Britain’s vote to leave the European Union has sent jitters through global markets, but it is important to work together to strengthen confidence, prevent the spread of panic and maintain stability in capital markets, China’s Premier Li Keqiang said on Tuesday.

“It’s hard to avoid short-term volatility in China’s capital markets, but we won’t allow roller-coaster rides and drastic changes in the capital markets,” said Li, speaking at the World Economic Forum (WEF) in the city of Tianjin.

China will prevent systemic and regional risks when developing its capital markets, said Li.

In a speech on Monday, Li said China hopes for a united and stable EU and a prosperous United Kingdom, but added, “against the backdrop of globalization, it’s impossible for each country to talk about its own development discarding the world economic environment.”

(Reporting by Beijing monitoring desk; Editing by Kim Coghill)