After the release of The January-February activity figures, China’s National Bureau of Statistics (NBS) released a statement, via Reuters, expressing their take on the economy.
Key headlines
China’s economy is exposed to many risks and difficulties, as well as a complex and severe external environment.
The national economy performed better that expected in the first two-months of 2022.
Momentum of China’s economic recovery sound in Jan-Feb.
Economic performance is experiencing positive changes.
Foundation for economic recovery is not yet solid.
Need to watch COVID-19’s impact on China’s economy.
Jan-Feb retail sales were helped by sales related to the winter Olympics.
Expect China’s consumption recovery to continue.
Expect China’s economy to maintain relatively good performance in Q1.
Ukraine crisis’ impact on China’s economy limited, could push up import prices.
China’s employment remains stable, rising jobless rate mainly driven by seasonal factors.
Expect development of China’s property sector to remain steady.
You will need to work hard to reach the 2022 growth target at around 5.5%.
Rising fixed-asset investment shows China’s drive to spur spending on infrastructure projects gain traction.
Market reaction
AUD/USD traded flat at 0.7383 on the positive Chinese data and NBS comments.