“China’s Stats Bureau Spokesman expects economic operations to improve in May,” per Reuters.

The diplomat also adds, “China able to keep consumer inflation stable.”

The comments from the National Bureau of Statistics (NBS) came out after the downbeat Retail Sales and Industrial Production for April raised concerns over the financial health of the world’s second-largest economy, namely China.

Read: China Retail Sales and industry data sinks AUD/USD

Additional comments

China steadily pushing forward production resumption in covid-hit areas.

Expects recovery in consumption to quicken.

China’s exports face some pressure as global economy slows.

Expects china’s economic recovery to quicken.

Expects china’s economy to maintain a relatively sound trend in Q2.

Market implications

The news fails to reverse the latest risk-off mood, which in turn keeps the AUD/USD prices heavy around the intraday low surrounding 0.6900.

Read: AUD/USD drops back towards 0.6900 on China’s downbeat Retail Sales, Industrial Production

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