China's Politburo: The economy is becoming more uncertain and complex - State Media

On early Friday, the Chinese replied to the comments from the Politburo, which said that they are tackling the economic fears from the latest corona virus outbreak

April 29, 2022 - 03:16 PM 260 views

China's Politburo: The economy is becoming more uncertain and complex - State Media

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© China's Politburo: The economy is becoming more uncertain and complex - State Media

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On early Friday, the Chinese replied to the comments from the Politburo, which said that they are tackling the economic fears from the latest corona virus outbreak and from the Russia-Ukraine war crisis, but they are ready to face the challenges.

Key Points

·        The COVID virus spread and the Russia-Ukraine war have enormously created challenges.

·        I will definitely work hard and achieve a full year's economic and social targets.

·        A package of policies is designed to support the covid affected industries and small companies.

·        Safeguard the bottom line from systematic risks and effectively manage major challenges.

·        Implementation of effective measures to support the platform economy's healthy development

·        Prevention of the Black Swan and Grey Rhino events

·        Assist in the healthy development of the Forex market.

·        Provide support to the local governments for the improvement of housing policies.

·        Continue to operate capital markets in a stable manner.

·        We have to stabilise foreign investment and actively respond to the demands of foreign companies.

·        Step up and tweak the macro policies to stabilise the economy.

·        I have to study more financial policy strategies.

Market Suggestions:

This news failed to gain any major attraction from the markets amid a sell-off in Japan and cautious sentiment ahead of critical US and Eurozone data.

However, the USD/CNH exchange rate is still firmer than it has been in 17 months, hovering about 6.6680 at the time of writing.

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