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- China’s Premier Li vows more policy support to shore up consumption
China’s Premier Li vows more policy support to shore up consumption
China’s Premier Li Keqiang vowed more policy support to drive up consumption in the economy, Bloomberg reported on Tuesday.
Key quotes
China “will adopt multiple measures to stabilize growth, employment and prices.”
“The economy is facing slight fluctuation as it recovers, and the current stage is a critical one that requires greater urgency, like when one climbs up a hill facing headwinds.”
His comments come after tourism revenue declined 22.8% to 28.7 billion yuan ($4.1 billion) over the Mid-Autumn Festival from a year ago.
Market reaction
At the time of writing, USD/CNY is trading at 6.9227, down 0.04% on the day.
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USD/CNH Price Analysis: Struggles around 6.9200 as bears keep reins
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