China’s NDRC: Approved nine fixed-asset investment projects in August

The National Development and Reform Commission (NDRC), the country’s state planner, announced on Monday that they have “approved nine fixed-asset investment projects worth a total of 80.2 bln yuan in August.”

Additional takeaways

Speed up injection of funds to start project construction as soon as possible.

Foundation of domestic economic recovery is still weak despite positive changes in main economic indicators.

External environment for utilizing foreign capital increasingly complex and severe, there remains some factors affecting foreign investment confidence.

Seeks to promote acceleration in recovery of domestic consumption.

Market reaction

Despite PBOC easing action and China’s investment boost, AUD/USD fails to capitalize, losing 0.24% on the day to trade at 0.6700, as of writing.