- Analytics
- News and Tools
- Market News
- China’s Xi: Covid control is entering new phase as cases surge after reopening
China’s Xi: Covid control is entering new phase as cases surge after reopening
Chinese President Xi Jinping appeared in a televised speech to mark the New Year on Saturday, per Reuters. The policymaker called on for more effort and unity as the country enters a "new phase" in its approach to combating the pandemic.
This was Xi’s first comments to the public on COVID-19 since his government changed course three weeks ago and relaxed its rigorous policy of lockdowns and mass testing, reported Reuters.
Key comments
China's 2022 economic output was expected to exceed 120 trillion yuan ($17.4 trillion).
China had overcome unprecedented difficulties and challenges in the battle against COVID, and that its policies were ‘optimized’ when the situation and time so required.
Since the outbreak of the epidemic ... the majority of cadres and masses, especially medical personnel, grassroots workers braved hardships and courageously persevered.
At present, the epidemic prevention and control is entering a new phase, it is still a time of struggle, everyone is persevering and working hard, and the dawn is ahead. Let's work harder, persistence means victory, and unity means victory.
Forex implications
The news should weigh on the prices of commodities and Antipodeans, which in turn can exert downside pressure on the AUD/USD and NZD/USD due to Australia and New Zealand’s strong trade links with China.
It’s worth noting that Australia became the latest to join the other developed countries in requiring Chinese travelers to have negative Covid test results. Travelers from China to Australia will need to submit a negative COVID-19 test from Jan. 5, Australian health minister Mark Butler said on Sunday, report Reuters.
Also read: AUD/USD advances towards 0.6850 as focus shifts to Caixin Manufacturing PMI data
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
