[China Focus Face to Face] A 10% appreciation of the RMB against the U.S. dollar in one year is bad or good for the economy? ——Interview with Guan Tao, Global Chief Economist of Bank of China Securities and former Director of the Balance of Payments Department of the State Administration of Foreign Exchange-Chinanews.com

　　Since 2021, the exchange rate of RMB against the US dollar has fluctuated significantly in both directions. It has experienced declines and experienced rapid rises.

Recently, the central bank and other departments and agencies have intensively expressed their views on the RMB exchange rate, which has aroused attention from the outside world.

　　From June last year to now, the RMB has risen by about 10% against the US dollar. Is this a negative or a positive?

Guan Tao, Global Chief Economist of Bank of China Securities and former Director of the Balance of Payments Department of the State Administration of Foreign Exchange, accepted an exclusive interview with China News Agency "China Focus Face-to-face" to give an authoritative interpretation.

(Reporting by reporter Xia Bin, Shan Lu and Wang Chao in Beijing)

Editor in charge: [Sun Jingbo]