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China’s Finance Minister says further stimulus policies eyed to boost economy

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China ニュース

Macroeconomics

China’s Vice Minister of Finance, Liao Min, said on Monday that China will step up countercyclical adjustments of its macropolicies to bolster economic recovery in the fourth quarter, which will lay a solid foundation for achieving the annual growth target of around 5% this year.

Key quotes China to step up counter-cyclical fiscal policy. China confident in achieving around 5% growth target. Details of fiscal stimulus will undergo a legal process. Will be announced after the National People’s Congress session. Market reaction At the time ofwriting,AUD/USDwas down 0.12% on the day at 0.6598.

How does the health of the Chinese Economy impact the Australian Dollar? China is Australia’s largest trading partner so the health of the Chinese economy is a major influence on the value of the Australian Dollar . When the Chinese economy is doing well it purchases more raw materials, goods and services from Australia, lifting demand for the AUD, and pushing up its value. The opposite is the case when the Chinese economy is not growing as fast as expected.

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