“China’s economy to grow by 4.8% in 2022,” forecasts the global rating giant Fitch during early Tuesday morning in Asia, per Reuters.
China's growth should improve during the second half of 2022, as policy support in mainland China takes effect.
Growth across greater China will slow in 2022 following its strong economic recovery in 2021.
Expect macro-policy easing to advance in early 2022 in mainland China, after a 50bp reduction to banks’ reserve requirement ratios in December 2021.
USD/CNY refreshes 32-month low
USD/CNY pays a little heed to mixed growth forecasts from Fitch while printing a three-day downtrend to poke the fresh low since May 2018, down 0.06% daily around $6.34 by the press time.
Also read: China opens door to more monetary easing actions ahead
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