NDRC: China faces new challenges in stabilizing jobs, prices due to covid, Ukraine crisis

Dhwani Mehta FXStreet

“China faces new challenges in stabilizing jobs, prices due to covid and risks from Ukraine crisis,” the country’s National Development and Reform Commission (NDRC) Vice Head said on Tuesday.

Additional takeaways

China will safeguard food and energy security, and stabilize industrial supply chains.

Will not resort to flood-like stimulus.

Will roll out tools in its policy reserve in a timely way to cope with challenges.

Market reaction

AUD/USD remains weighed down by the cautious remarks from the Chinese official, now trading at 0.6918, down 0.07% on the day. Meanwhile, USD/CNY is up 0.09% on the day at 6.6965, at the time of writing.

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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