China’s Finance Minister Liu: Will strengthen cooperation between fiscal and monetary policy

Dhwani Mehta FXStreet

China's Finance Minister Liu Kun said on Tuesday that Beijing “will strengthen cooperation between fiscal and monetary policy.”

Additional takeaways

“Will implement greater tax and fee cuts this year.“

“Will step up central govt's transfer payments to local governments this year.”

“2022 transfer payments will help offset impact from tax cuts on local revenues.”

Market reaction

USD/CNY is off the multi-day highs of 6.3430, still up 0.08% at 6.3405, as of writing.

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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