China’s Finance Minister: Will strengthen financial and tax policies

Dhwani Mehta FXStreet

China will strengthen financial and tax policy to ensure national economic security, the Finance Minister Liu Kun said in an article published on Friday.

Additional quotes

“To establish local govt debt financing mechanism to strengthen prevention of hidden debt risks.”

“To advance disposal of high-risk financial institutions in an orderly manner.”

“To maintain fiscal sustainability.”

Market reaction

The higher-yielding commodity-currencies are benefiting the most from the US vaccine approval-driven upbeat market mood, with the AUD/USD pair trading at the highest levels in about 30 months near 0.7560.

USD/CNY trades weaker around 6.5350, 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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