Global investors have concerns about the Chinese economy including its pace of recovery, and with problems related to real estate and local government borrowing, Deputy Governor Zhang Qingsong acknowledged in a speech in English at a global finance summit held by Hong Kong’s de facto central bank.
Speaking at an international financial summit in Hong Kong on Tuesday, People’s Bank of China’s (PBOC) Deputy Governor Zhang Qingsong said that he is “not too worried about the Chinese economy.” He added that the “overall debt level of the Chinese government is in the mid to lower range by international standards.” Market reaction At the time of writing, AUD/USD is testing intraday lows near 0.6470, down 0.22% on the day, unfazed by the PBOC official’s upbeat remarks.
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SHANGHAI/SINGAPORE: As China's government speeds up spending plans to strengthen an economy recovery that has spluttered this year, investors are betting the central bank will help out by easing monetary policy further.