China's Xi: China still able to meet 2020 economic target despite virus impact

Eren Sengezer FXStreet

China will still be able to meet its 2020 economic growth target despite the negative impact of the coronavirus outbreak, China's President Xi Jinping told the Chinese state television on Tuesday.

In the meantime, "China's measures to prevent and control the COVID-19 epidemic are achieving visible progress as the battle has reached a crucial time," Xi Jinping told British Prime Minister Boris Johnson earlier in the day, as per Xinhua News Agency.

Risk aversion

Markets remain risk-averse despite these comments. As of writing, the 10-year US Treasury bond yield was down 2.5% on the day and major European equity indexes were erasing between 0.5% and 0.85%.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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