Comments via Chinese state media, Xinhua
- Will continue to implement proactive fiscal policy
- Will maintain stability, continuity of macro policies
- Will maintain necessary policy support for recovery in 2021
Essentially, China is keeping the status quo as we look towards the new year. It was reported earlier this month that policymakers were comfortable with letting the yuan run further to the upside, and that remains the case as we look to round off the year.
Barring any major appreciation in the yuan that sees USD/CNY push towards 6.00, I reckon the PBOC can be rather comfortable with the latest happenings.
