In 2022, faced with challenges of high winds and choppy waters in the global environment as well as arduous tasks to advance reform, promote development and maintain stability at home, under the strong leadership of the Central Committee of the Communist Party of China with Comrade Xi Jinping as the core, all regions and departments strictly implemented the decisions and arrangements made by the CPC Central Committee and the State Council, adhered to the general working guideline of making progress while maintaining stability, coordinated the work of epidemic prevention and control and economic and social development ... (full story)

China reported GDP growth for 2022 that beat expectations. GDP grew by 3% in 2022, the National Bureau of Statistics said Tuesday. That was better than the 2.8% forecast in a Reuters’ poll. In 2021, growth had rebounded by 8.4% from just 2.2% growth in 2020. Fourth-quarter GDP rose by 2.9%, beating expectations from the Reuters’ poll of 1.8% growth. In 2022, the metropolis of Shanghai locked down for about two months in an attempt to control a Covid outbreak. China’s stringent zero-Covid policy restricted travel and business activity across the country. Authorities abruptly relaxed most controls in early December, ... (full story)

AUD/USD renews its intraday high around 0.6980 as firmer statistics from China joins the US Dollar retreat during early Tuesday. The Aussie pair buyers, however, remain cautious ahead of this week’s US Retail Sales and Australian employment data amid mixed sentiment. That said, China's Gross Domestic Product (GDP) for the fourth quarter (Q4) printed 0.0% QoQ figure versus -0.8% expected and 3.9% prior. Further details suggest that the Industrial Production for December grew 1.3% YoY versus 0.5% market forecasts and 2.2% prior readings. Additionally, Retail Sales improved to -1.8% YoY for December compared to -7.8% ... (full story)