- Challenges created by COVID-19 and Ukraine conflict are increasing
- Will implement a package of policies to support COVID-affected industries, small firms
- To roll out measures to support healthy development of the economy
- Will effectively control major risks, safeguard bottom line for systemic risks
- Will step up macro policy adjustments to stabilise the economy
This is pretty much just Chinese authorities reaffirming support for the economy, after having seen market hopes be dashed by the PBOC at the end of last week. But what is clear is that they are using the yuan as part of this tool in order to try and bolster support for local players. And until now, they aren't drawing much of a red line on that just yet.
