China said to boost strategic commodities reserves in next five-year plan – Bloomberg
|In its next five-year plan, China is said to bump its massive state reserves of crude, strategic metals and farm goods, Bloomberg reports, citing officials familiar with the matter.
China is looking to ensure stockpiles are plentiful enough to withstand supply disruptions that could cripple its economy, the officials added.
This comes after Beijing reported last week that it is planning a sweeping set of policy changes to its 3rd generation semiconductor industry for the next five years through to 2025.
Market reaction
The above report had little to no impact across the commodities board, with Gold on the back foot around $1945 while WTI consolidates the bounce around the $38 mark.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.