China’s Commerce Ministry: Coronavirus pandemic causes new negative impact on attracting foreign investment

Dhwani Mehta FXStreet

Coronavirus pandemic causes new negative impact on attracting foreign investment, business resumption of foreign-invested firms, said an official at the Chinese Commerce Ministry on Friday.

Additional quotes

Closely monitoring progress of key foreign investment projects.

Will encourage foreign investment to flow to areas such as advanced technology and energy conservation.

Asks local govts to attract foreign investment in Midwest China and northeast rustbelt region.

Will further reduce negative list for foreign investment.

Will minimize impact from coronavirus pandemic on foreign investment.

Separately, China’s Banking and Insurance Regulator Vice Head said that the risks of global economic recession are rising.

He added that China banks made new loans of 7 trillion yuan in Q1.

USD/CNH mildly positive around 7.1000 following China Caixin Services PMI

USD/CNH fails to cheer upbeat China data amid coronavirus resurgence risk. ADB cuts China’s GDP forecast for 2020. Risk-tone remains heavy, eyes US data/virus updates for fresh impulse.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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