China’s Commerce Ministry: Beijing faces grim foreign trade situation in 2022
|China’s Commerce Ministry said in a statement on Tuesday, the country faces a grim foreign trade situation in 2022.
The Ministry, however, noted that it “has confidence will maintain full-year foreign trade operations within a reasonable range.”
Additional quotes
“The global economic recovery is under pressure, which will weigh on trade.”
“Inflation, supply chain pressure, labor shortages are also negative factors.”
“Supply chain issues are a challenge to exporters.”
Market reaction
USD/CNY stages a sharp V-shaped recovery from a downward spike to 6.3259, now trading neutral at 6.3306.
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