Speaking at an audience at Davos late Tuesday, China’s Vice-Premier Liu He said that the country’s “growth rate in 2023 is likely to return to normal, as firms increase investment and consumption rebounds.”

Additional comments

“Beijing welcomes foreign investment and seeks to expand foreign trade, as these are strong pillars of China's economic progress.”

“On real estate, the rapid pace of urbanization provides strong demand fundamentals for future stability, and the government will continue to work on de-risking the sector. “

“International cooperation should focus on ensuring energy and food security.”

Market reaction

At the time of writing, AUD/USD is defending minor gains while trading at around 0.7000. Markets are in a cautious mode ahead of the Bank of Japan (BoJ) policy announcements.