NDRC: China faces new challenges in stabilizing jobs, prices due to covid, Ukraine crisis
|“China faces new challenges in stabilizing jobs, prices due to covid and risks from Ukraine crisis,” the country’s National Development and Reform Commission (NDRC) Vice Head said on Tuesday.
Additional takeaways
China will safeguard food and energy security, and stabilize industrial supply chains.
Will not resort to flood-like stimulus.
Will roll out tools in its policy reserve in a timely way to cope with challenges.
Market reaction
AUD/USD remains weighed down by the cautious remarks from the Chinese official, now trading at 0.6918, down 0.07% on the day. Meanwhile, USD/CNY is up 0.09% on the day at 6.6965, at the time of writing.
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