China’s NDRC: Economic recovery is not solid yet

Dhwani Mehta FXStreet

“Basis of China's economic recovery not solid yet,” Ning, Vice-Chair at the National Development and Reform Commission (NDRC), the country’s state planner, said on Monday.

Additional takeaways

“China must cope with risks from overseas. “

“Confident China will achieve 2021 economic targets.”

“Liquidity will be kept reasonably ample in 2021 given nominal GDP growth could be relatively high.”

“China will continue to guide financial institutions to surrender profits this year.”

“China will rely on reforms to resolve risks.”

“China's five-year plan implies quantitative GDP growth goal.”

“China's economy in Jan-Feb continues steady recovery trend since Q2 2020.”

Market reaction

The above comments fail to have any market impact, with AUD/USD holding gains around 0.7700 while the S&P 500 futures turn negative around the 3,835 region.

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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