China’s NDRC: Economy will return to normal in Q2

Dhwani Mehta FXStreet

China’s state planner, the National Development and Reform Commission (NDRC), said on Tuesday, the economy will return to normal in Q2.

The Commission added that Beijing still has ample policy tools and will roll out relevant policy reserves at an appropriate time.

China will keep economic operations within a reasonable range, while saying that it will expand the scale of local governments' special bond issuances.

Further, the NDRC said it approved 19 fixed-asset investment projects worth CNY 185.3 bln in Jan-Feb. According to China’s National Bureau of Statistics (NBS), Fixed asset investment for the same period stood at -24.5% YoY vs. +2.8% expected and +5.4% last.

USD/CNY in a three-day losing streak

USD/CNY trades modestly flat near 6.9925, as the bears take a breather after the latest declines to a two-day low of 6.9869 reached in the last hour.

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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