China’s President Xi: Strive to achieve economic targets with virus curbs

China is committed to achieving key economic and social development targets this year while adhering to strict virus controls, the country’s President Xi Jinping said in an editorial article for the People’s Daily Thursday.

Key quotes

“China should push for high-quality development and better coordinate policies around development and safety.”

“Industrial development is the top priority of China’s rural revitalization efforts. Local governments should strengthen the construction of rural infrastructure and public service systems, fill the gaps in public health services, and promote a healthy and environmentally friendly lifestyle.”

“To build a modern socialist country, China must build both a prosperous city and a prosperous countryside.”

Market reaction

Despite President Xi’s comments and ample liquidity injections into the economy, USD/CNY trades higher by 0.08% so far this Thursday, currently at 6.4806.