Source: Xinhua News Agency, January 7, 2020

In recent months, the Chinese yuan has experienced a significant rebound against the US dollar, with the central parity rate of the yuan breaking the 6.5 mark on the second trading day of 2021.

Since May 28, 2020, the Chinese yuan has risen by nearly 10% and rebounded by over 7000 points.

Industry insiders say that economic recovery, export recovery, capital inflows, and the weakening of the US dollar are important factors driving the strength of the renminbi.

Netizens have expressed, "Some are happy, while others are sad," "Thank you, foreign trade professionals have switched careers," and "It's beneficial for RMB settlement, so it's good to gradually adapt to this

What will be the exchange rate of the Chinese yuan in 2021? Listen to the expert's interpretation——

Tan Yaling, an independent economist at the China Foreign Exchange Investment Research Institute, analyzed that the appreciation of the renminbi at the beginning of 2021 is a reference for the entire year ahead.

Zheng Lei, Chief Economist of Baoxin Financial, stated that as countries gradually resume production, the negative impact of overvalued RMB exchange rates will gradually become apparent. If we take advantage of this opportunity, we can try to increase the reform efforts in some foreign exchange fields, stabilize excessive appreciation, and ensure the basic stability of the exchange rate.

Yang Delong, Chief Economist of Qianhai Open Source Fund, said that the RMB will continue to maintain a long-term appreciation trend in 2021, but the possibility of rapid appreciation is unlikely.

What impact does the appreciation of RMB have on the stock market and gold price?

Tan Yaling stated that the impact of the RMB exchange rate on the stock market, gold price, and futures market is limited, and the prices of related assets also depend on their respective patterns and cycles, as well as market demand and economic fundamentals. (High fluency/articles, videos)