China’s Commerce Ministry: Beijing faces grim foreign trade situation in 2022

China’s Commerce Ministry said in a statement on Tuesday, the country faces a grim foreign trade situation in 2022.

The Ministry, however, noted that it “has confidence will maintain full-year foreign trade operations within a reasonable range.”

Market reaction

USD/CNY stages a sharp V-shaped recovery from a downward spike to 6.3259, now trading neutral at 6.3306.

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