The military must work harder to meet President Xi’s standards.
Earlier today, Chinese President Xi Jinping stated that his country would hasten the preparedness for armed combat and improve the country's army ability to carry military tasks. He believes that the army should also explore new and alternative ways of training, as the pandemic had an impact on national security.
The timing of such an announcement is strange, as China is now confronted with protests in Hong Kong. A few days ago, people were fired gas and watered, and the police arrested more than 180 people.
The market reacted accordingly to the news, with HongKong45 gaining 1.8%. Gold fell 0.6% to $1,725.85 per ounce. Oil gained 2.6% to $34.12 per barrel, while Brent Oil added 1.6% to $36.09.
Sources: forexfactory.com, reuters.com, investing.com
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