HONG KONG: China’s yuan firmed against the US dollar on Wednesday as investors shrugged off much weaker-than-expected export and import data and awaited a government announcement on more COVID-19 easing measures that could revive the battered economy.
China may announce 10 new national easing measures as early as Wednesday, two sources with knowledge of the matter told Reuters.
After President Xi Jinping chaired a meeting of the Communist Party’s politburo, state media fed the growing sense of anticipation by reporting that China should seek “to better coordinate epidemic policies with economic and social development”.
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