Technical Analysis

China’s cabinet said it will promote consumption recovery, boost imports to drive economy


A statement from China’s State Council over the weekend reported via state broadcaster CCTV.

In brief:

  • Statement came after a meeting chaired by Premier Li Keqiang
  • said it would promote a consumption recovery as the major driver of the economy
  • would boost imports
  • to quicken the rollout of foreign investment projects
  • to maintain a stable yuan
  • ease cross-border travel
  • reaffirmed its support for the private sector and digital economy

Earlier:

This is supportive for China trades and China-proxy trades (such as AUD).

Premier Li Keqiang is finishing up his term soon.

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