RMB exchange rate is a reflection of China's economic fundamentals. In the short term, due to China's sustained economic recovery, international investors are optimistic about the continuous inflow of foreign capital in the capital market, which is expected to further promote the appreciation of the RMB. Exchange rate stability contributes to economic and financial stability, which complement each other. We should open the financial market steadily and orderly, improve the RMB exchange rate formation mechanism, and promote the internationalization of the RMB. In the long run, the RMB exchange rate will remain at a balanced and reasonable level.

Economically, China's economy is the first to recover, and its epidemic prevention and control and factory resumption are in the forefront of the world, so its economic fundamentals are improving. In addition, from a global perspective, the epidemic prevention and control has gradually turned to an inflection point, and breakthroughs have been made in vaccine research and development, which have provided impetus for the appreciation of the renminbi.

China's manufacturing index has been ranked above 60% for half a year in a healthy and prosperous state. The rebound of manufacturing index further determines the space for RMB appreciation. The uncertainty of the future US dollar index will also bring changes to the fluctuation of RMB.

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Reply time: 2021-1-10. Please refer to the latest business changes announced by Ping An Bank in official website.