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China President Xi Promises To Reach The Growth Objective

 China President Xi Jinping promised to accomplish economic goals for the year despite the nation dealing with cholera outbreaks and a poor property market in a keynote address at a virtual BRICS Business Forum on Wednesday.


Additional Quotes

In order to accomplish its social and economic development goals for 2022 and lessen the effects of COVID-19, China would "strengthen macro-policy adjustment and employ more effective measures."

China's strategy for combating COVID "safeguarded people's lives and health while stabilising the foundations of economic and social development to the greatest extent possible."

The Market Reaction

Despite the Chinese president's confidence, the market is underwhelmed with the AUD/USD pair as recession worries dominate. The price of the pair was last seen trading at 0.6887, down 0.56 percent on the day.

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