China cabinet out with some remarks
- Will roll out policies to further boost consumption
- To maintain stability, continuity, and strengthen effectiveness of macro policies
- Economy faces challenges from sporadic COVID-19 cases, high commodity prices
- To strengthen coordination between fiscal, financial, employment policies
The remarks here aren't anything new but the timing here is the most important thing. In other words, China is giving some reassurance that they will stick with supportive measures for the economy and not threaten any major destabilisation.
At least that is the takeaway I'm landing at from the remarks above.
But still, expect more turbulence and volatility to follow in Chinese markets in the weeks/months to come as local authorities stick with the ongoing crackdowns.
