On US visit, China's president says committed to reforms

Chinese President Xi Jinping sought to reassure US officials on September 22 that Beijing remains committed to financial reforms and an open economy.

"China will not go backward in this process," Xi said at a forum for US and Chinese governors in Seattle during the first day of his week-long visit to the United States. He was due later to deliver a keynote speech billed as a major policy address.

Xi's visit will include meetings with tech and other top business leaders, a black-tie state dinner at the White House hosted by President Barack Obama and an address at the United Nations.

Xi faces questions about his stewardship of the economy, which has been slowing after years of rapid growth, and about his government's heavy intervention in stock markets after key indexes tumbled over the summer.

The United States will urge Xi to avoid "quick fixes" for its economy, such as devaluing its currency, to boost exports, White House chief economist Jason Furman told Reuters on September 22.

China's recent loosening of controls on the yuan currency "caused turmoil" in global financial markets and US officials plan to raise the issue of China's volatile stock market, Furman said.