China’s NDRC: Economic recovery still faces difficulties and challenges

Dhwani Mehta FXStreet

The economic recovery still faces difficulties and challenges, the National Development and Reform Commission (NDRC), China’s state planner, said in a statement on Monday.

Additional takeaways

“Will adopt effective measures in response to new situations in economic recovery. “

“Fully confident in achieving annual economic, social development targets.”

“Will properly arrange upcoming zinc, copper, aluminium release from state reserves.”

“Expect hog prices to rebound in near future, number of hogs slaughtered in July, August to decline.”

“Will step up regulation when necessary to prevent major fluctuations in hog, pork prices.”

Market reaction

AUD/USD was last seen trading at 0.7379, flirting with seven-month lows of 0.7373 amid escalating Delta covid strain concerns in Australia and across the globe.

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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