China’s Vice Premier Liu: Economy unlikely to achieve positive growth this year

“It’s highly likely that China’s economy will achieve positive growth this year,” Vice Premier Liu He said on Wednesday.

Further comments

“Will make prudent monetary policy flexible and appropriate, keep liquidity reasonably ample.”

“Will increase market consolidation to a reasonable extent, to speed up the economy’s dual circulation.”

“China will unwaveringly insist on opening-up its markets in all aspects.”

Market reaction

The dour outlook on the economy from China’s policymaker has little impact on the market sentiment, which remains buoyed by the US stimulus hopes.

AUD/USD rallies 0.50% to 0.7080, gearing up for a strong move above 0.7100. The S&P 500 futures, however, trade with modest gains near the 3,435 region.