Vice Chair of China’s National Development and Reform Commission of the People's Republic of China (NDRC) said in a statement on Monday, the economy steadily improving.

Additional comments

“Will further release the potential for consumption. China's economy steadily improving.”

“Will prudently tackle risks related to real estate, finance and local government debt.”

“Confident and capable of reaching this year's CPI target.”

His comments come after the country's growth target was set at around 5.0% over the weekend, which disappointed the market’s expectations of above 5.50%.

Market reaction

At the time of writing, AUD/USD is holding steady at around 0.6766, recovering ground after falling as low as 0.6641.