China’s Finance Ministry: Economy will maintain its rebound and positive trend

Dhwani Mehta FXStreet

China’s Finance Ministry said in a statement on Tuesday, the “economy will maintain its rebound and positive trend.”

Additional quotes

Disappointed by Moody's downgrade of ratings outlook.

China's economy will maintain its rebound and positive trend.

Moody's concerns about China's economic growth prospects, fiscal sustainability and other aspects are 'unnecessary'.

The impact of the downturn in the real estate market on local general public budgets and government fund budgets is controllable and structural.

Market reaction

AUD/USD is licking the RBA decision-inflicted wounds near 0.6580, down 0.60% on the day, 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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