China’s Finance Minister says further stimulus policies eyed to boost economy
China’s Vice Minister of Finance, Liao Min, said on Monday that China will step up countercyclical adjustments of its macropolicies to bolster economic recovery in the fourth quarter, which will lay a solid foundation for achieving the annual growth target of around 5% this year.
Key quotes
China to step up counter-cyclical fiscal policy.
China confident in achieving around 5% growth target.
Details of fiscal stimulus will undergo a legal process.
Will be announced after the National People’s Congress session.
Market reaction
At the time of writing, AUD/USD was down 0.12% on the day at 0.6598.
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