"I think the current exchange rate is in line with the conditions of the country and the conditions of foreign trade," Jin told a news conference on the sidelines of the annual parliamentary meeting in Beijing.

While he does not oversee foreign exchange policy, Jin's statement would support suggestions China has no immediate plans to succumb to international pressure to revalue the renminbi (yuan), which trade partners such as the United States said is kept at an artificially low rate.

The Chinese yuan has been pegged at around 8.28 to the dollar for the past decade and so has recently followed the American currency on its downward path against the world's major currencies.

As a result, China has come under intense pressure from foreign governments, especially Wash-ington, who say the current value of the yuan gives Chinese exports, the main driver for its economy, an unfair advantage.

Jin also echoed statements by China's central bank governor Tuesday that China will gradually reform its exchange rate mechanism.

"We are going to make efforts with regards to the structure of foreign exchange and we're going to ensure the sustainable and stable development of the foreign exchange rate," Jin said.

"This will be conducive to the development of Asia and the world as a whole."