Review and macro developments in China and overseas

Although the Federal Reserve’s semi-annual monetary policy report pointed out that shrinking liquidity will have an adverse impact on the economy, some Fed officials have called for interest rate hikes again. In China, the State Council stated that it would study policies and measures to promote economic recovery. The National Development and Reform Commission stated that it will formulate and introduce relevant policies from six aspects to restore and expand the scale of consumption. Subsequently, the LPR was lowered again to release liquidity.