China should act on its macro policies before the US Federal Reserve's potential "steeper-than-previously-expected" monetary tightening, Chinese media outlet reports, citing comments from Yu Xuejun, a former official of the China Banking and Insurance Regulatory Commission (CBIRC).

Meanwhile, the country’s former Finance Minister Zhu Guangyao warned that “if the Fed starts to accelerate Tapering at the same time as raising interest rates, such stronger impact on emerging markets should be highly vigilant,” the Chinese daily said.

Related reads

• USD/CNH could now retest the 6.4000 level – UOB
• PBOC: Will implement new schemes to support small businesses hit by covid impact