AUD/USD drops back to 0.6950 as China Customs resists cheering upbeat trade figures for 2022 – by anilpanchal7 AUDUSD ForeignTrade RiskAppetite Fed Inflation
That said, China’s Trade Balance figures jumped to a record high in Yuan terms for 2022, up 7.7% YoY. However, China Customs Spokesperson Lyu Daliang mentioned that China's foreign trade will continue to face a number of challenges and difficulties in 2023, per Reuters. While conveying the data, Xinhua mentioned that China's total goods imports and exports hit a record high again in 2022, expanding 7.7% year on year to 42.07 trillion yuan .
Reuters cites anonymous sources to state that the White House will discuss a recent crackdown on exports of chip-making tools to China with Japanese and Dutch officials during upcoming visits. The news also mentions that the White House Officials will not result in "immediate" pledges from the two countries to impose similar curbs.
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