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1. the rmb exchange rate has risen sharply!

the rmb has gone crazy! don't get me wrong, it's not just because the fed's rate cut has made the rmb appreciate. in fact, the us dollar has rebounded to 100.9. however, the offshore rmb has gone against the tide, rising sharply by 0.4% to 7.04, only 0.6% away from the 7 mark.

against the backdrop of global interest rate cuts, the yen also depreciated significantly against the dollar, falling by 0.8% to 143.8. this is also a key factor in driving the appreciation of the renminbi. i guess this may be because after the fed cut interest rates, some companies began to rush to settle foreign exchange to avoid a year of wasted work due to the depreciation of the dollar.

2. a few days ago, it was officially announced that china can build its own lithography machines.

aren't the americans trying to strangle us over chips? well, i can tell you that our domestic chips have become the world's largest export commodity.

in the first six months of this year, china's chip exports exceeded 500 billion yuan, an annual growth of 26%. forecasts show that by 2030, china is expected to become the world's largest chip exporter.