Citing Zhao Chenxin, deputy director of China’s National Development and Reform Commission (NDRC), the 21st Century Business Herald reported Tuesday, “China’s difficulties in 2022 were greater than expected, but the economy will recover in 2023.”
Additional takeaways
“The NDRC will support projects linked to local government bonds and accelerate the release of special loans for equipment renewal and encourage growth in manufacturing. “
“Foreign investment should be encouraged and the catalog of accessible industries should be revised.”
“Private companies and investments are supported and guided to participate in national development strategies.”
market reaction
Despite the upbeat comments, AUD/USD is losing ground below 0.6800 and is down 0.29% on the day at 0.6782 at the time of writing.
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