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Recently, China's asset market has seen a comprehensive recovery, with strong upward momentum in exchange rates, stock markets and specific industry sectors. On Monday morning, Chinese assets surged across the board, the RMB exchange rate strengthened, and multiple sectors in the A-share and Hong Kong stock markets rose, showing the strong momentum of China's economic recovery and a significant increase in market confidence.

The RMB exchange rate continues to strengthen, and market pressure is reduced

Since August, the RMB exchange rate has become more flexible, with both onshore and offshore RMB exchange rates against the US dollar rising above the 7.20 mark, with each rising by more than 1%. This trend not only reflects the market's confidence in China's economic fundamentals, but also reflects the improvement in international market expectations for the RMB exchange rate. Industry insiders pointed out that the RMB exchange rate has achieved equilibrium and stability in dynamic changes, thanks to the maturity of China's foreign exchange market participants and the rationalization of trading behavior, as well as the resilience of market operations and the continuous enrichment of the regulatory toolbox.

Wang Chunying, deputy director of the State Administration of Foreign Exchange, said recently that with the improvement of the internal and external environment in the future, the positive factors for the stable operation of cross-border capital flows in my country will further increase. From the perspective of the internal environment, the systematic deployment made by the Third Plenary Session of the 20th CPC Central Committee on comprehensively deepening reform and promoting Chinese-style modernization has effectively boosted market confidence, and the trend of domestic economic recovery will be consolidated and strengthened. At the same time, the continued deepening of reform and opening up in the foreign exchange field will further enhance the resilience of the foreign exchange market. From the perspective of the external environment, international trade is expected to resume growth, and the global trade volume of goods is expected to turn from decline to increase. In addition, with the increase in expectations of the Federal Reserve's interest rate cut, the international foreign exchange market environment is expected to gradually improve, further supporting the strengthening of the RMB exchange rate.