China’s Pres. Xi: The coronavirus is a “major test” for China - Xinhua

Dhwani Mehta FXStreet

China’s state-run news agency, Xinhua, carried a story on Tuesday, citing comments from the country’s President Xi Jinping, delivered in a Monday meeting with top Chinese officials on the coronavirus outbreak.

Xi noted: “The outbreak is a major test of China's system and capacity for governance, and we must sum up the experience and draw a lesson from it.”

The meeting resulted in a call to improve China's public health and emergency management system, an overhaul of environmental sanitation and a crackdown on illegal wildlife markets and trade, Xinhua added.

Yuan on a road to recovery

Amid ongoing China’s coronavirus scare, the yuan is rebounding alongside the Chinese stocks after Monday’s steep losses.

At the press time, USD/CNY corrects sharply from a two-month high of 7.0259 to now trade near 7.0025 region, down 0.26% so far.

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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