The People’s Bank of China (PBOC) will step up financial support for the real economy, central bank deputy governor Chen Yulu told a news conference on Thursday.
At the same press conference, Han Wenxiu, a senior Chinese Communist Party official, said they are considering new step-by-step measures to support growth and will take steps as needed.
China aims to implement the existing policy in the first half of the year, Han added.
market reaction
Despite these bullish comments, USD/CNY hits 0.7565, its highest since October 2020. The spot is now trading at 6.7483, up 0.40% on the day.
Meanwhile, AUD/USD is down 0.25% on the day and it is currently trading at 0.6917.
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