China’s Finance Ministry: Will 'appropriately' frontload infrastructure investments

China’s Finance Ministry said in a statement on Monday, it will make infrastructure investments appropriately ahead of time.

Additional quotes

“Will resolutely curb increases in local government hidden debt in 2022.”

“Will make bigger efforts to cut taxes and fees in 2022.”

Market reaction

USD/CNY was last seen trading at 6.3718, up 0.07% on the day, as China’s industrial profits growth eases amid a fall in the raw material prices.