Supportive comments coming out China.
China’s Ministry of Commerce official:
- Service consumption has big growth potential
- Supporting service consumption will help expand domestic demand, employment
PBOC official
- Will guide financial institutions to increase credit issurance to service consumption sector
- Will guide financial institutions to streamline the approval process of consumer loans
Chinese financial regulator officials:
- Lenders need to strengthen management of use of subsidy funds
- Lenders need to prevent diversion of funds to non-consumption areas
The remarks are helping the ‘risk’ FX trade to gain a few tics. Markets like supportive comments from China.
This article was written by Eamonn Sheridan at investinglive.com.