Speaking at an international financial summit in Hong Kong on Tuesday, People’s Bank of China’s (PBOC) Deputy Governor Zhang Qingsong said that he is “not too worried about the Chinese economy.”

He added that the “overall debt level of the Chinese government is in the mid to lower range by international standards.”

Market reaction

At the time of writing, AUD/USD is testing intraday lows near 0.6470, down 0.22% on the day, unfazed by the PBOC official’s upbeat remarks.