China’s yuan is facing the most sustained depreciation pressure since 2015, when a shock devaluation triggered a global stock market rout

The government will also prioritise the fight against the coronavirus pandemic and stabilise employment and prices, state media reported

BCA Research expects China's recovery to be U-shaped this year, failing to repeat the V-shaped resurgence that followed lockdowns in 2020 during the early part of the pandemic.

"As long as employment is relatively sufficient, household income grows and prices are stable, slightly higher or lower growth rates are both acceptable," Premier Li Keqiang said

The government is looking to boost infrastructure investment to achieve its 5.5% gross domestic product (GDP) growth target for 2022.

A "new paradigm" was at play, said DoubleLine's Bill Campbell, such as tensions around Taiwan and in the South China Sea as potential flashpoints with the West.

The report noted that the conflict in Ukraine and the supply-chain disruptions exacerbated by China's zero-Covid policy are dealing a serious blow to global recovery

Piecemeal measures such as vouchers, subsidies for car buyers and digital yuan payments have been modest compared with other big economies

As China's economy slows down in a crucial election year, economists are keeping an eye out for possible anomalies in the country's economic data

Divergent comments by China's top two leaders seem to have "exposed what government officials and policy advisers describe as simmering tensions among top Communist Party officials"

Liu He spoke at a meeting convened by the Chinese People's Political Consultative Conference in the strongest sign yet that Beijing would ease off on the sector

Financial markets have been hit hard over the past two weeks on fears that lockdowns in China would cause severe damage to its economy