China’s Liu: Will intensify fiscal policy

Dhwani Mehta FXStreet

Citing China's Finance Minister Liu Kun, the 21st Century Herald reported on Monday, the country “will intensify efforts to implement a strong fiscal policy and efficient taxation system this year to stabilize the economy.”

Liu said, “the global economic situation was not optimistic, and China's economy faces challenges.“

“Support for small and medium-sized enterprises, self-employed businesses, and disadvantaged industries will be a key focus this year,” he added.

Separately, China’s National Bureau of Statistics (NBS) reported that profits at industrial firms in China declined 22.9% in the first two months of 2023 from the year before.

Related reads

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.

AUD/USD sits at two-month lows near 0.6950 after Australian CPI data

AUD/USD is sitting at two-month lows near 0.6950 in the Asian session on Wednesday, as below-expectations August Australian underlying CPI data pours cold water on expectations for further RBA interest rate hikes. Chinese PMI data also fail to inspire the Australian Dollar, despite a pause in the US Dollar advance.

USD/JPY stays weak below 157.00 amid Japanese intervention risks

USD/JPY keeps losses below 157.00 in the Asian session on Wednesday, as hawkish BoJ expectations, along with intervention risks, underpin the Japanese Yen, countering dismal domestic factory output and retail sales data. Meanwhile, a broad US Dollar retreat also collaborates to the pair's downside.

Gold returns below $4,200 after a short-lived recovery

Gold tested $4,220 early in the American session after softer-than-expected US inflation figures. Encouraging US data weighed on the odds of a Federal Reserve rate hike in October, as employment and growth data beat expectations. Still, the precious metal was unable to retain its momentum and trades flat around $4,180

Crypto Today: Bitcoin holds $83K as Ethereum remains below $2,700 and XRP consolidates

Bitcoin trades lethargically on Wednesday, with bulls battling to defend the immediate $83,000 level as immediate support. Ethereum trades in tandem with Bitcoin, holding below key levels of $2,700 on the upside and $2,600 on the downside. Ripple, meanwhile, hovers near $1.50,

The Euro is near a one-year low: Inflation could trigger its rebound, not its fall

EUR/USD has fallen to its lowest level since May 2025, but a fresh inflation shock in the Eurozone could give the Euro an unexpected lifeline. The pair hit 1.1312 on Wednesday and trades well below the January peak of 1.2082. The decline reflects a powerful combination of US Dollar strength, geopolitical uncertainty and renewed concerns about Europe's exposure to higher energy prices.

The Euro is near a one-year low: Inflation could trigger its rebound, not its fall

EUR/USD has fallen to its lowest level since May 2025, but a fresh inflation shock in the Eurozone could give the Euro (EUR) an unexpected lifeline. The pair hit 1.1312 on Wednesday and trades well below the January peak of 1.2082.