China News Agency, Beijing, January 18 (Reporter Zheng Qiao Xing Liyu) Xiao Gang, member of the National Committee of the Chinese People's Political Consultative Conference and former chairman of the China Securities Regulatory Commission, pointed out in Beijing on the 18th that the flexibility of the RMB exchange rate will gradually increase in the future, and the two-way fluctuation of the exchange rate may be a problem. normal.

　　The media meeting of the Economic Committee of the National Committee of the Chinese People's Political Consultative Conference was held on the same day. When answering a reporter's question about "what impact does the appreciation of the renminbi have on China's next economic development", Xiao Gang pointed out that since last year, the main reason for the appreciation of the renminbi exchange rate is the trade in goods and capital investment Both have surpluses. This situation fundamentally reflects the long-term improvement of the economy, and also reflects China's further acceleration of reform and opening up, because only when it is more open can capital flow into China.

　　Xiao Gang analyzed the positive impact of RMB appreciation on China's economic development from five aspects: First, it is conducive to expanding imports.

China's imports in 2021 hit a record high and are also growing rapidly.

Actively expanding imports is an important measure for China's new round of high-level opening up.

In the future, the country will further expand the scale of imports, optimize the import structure, and realize the sharing of factor resources.

　　Second, it is conducive to promoting the transformation of the development mode of foreign trade and export.

In the past, exporting "wins by price", but in the future, it is necessary to "win by quality", establish more of its own brand, and increase the added value of exports.

At the same time, the appreciation of RMB can also support China to cultivate new foreign trade growth points and accelerate the development of new foreign trade formats.

　　Third, it is conducive to expanding foreign investment of enterprises, enabling Chinese enterprises to better go global and make full use of both domestic and international markets and resources.

　　Fourth, it will help ease inflationary pressures.

Studies have shown that the appreciation of the renminbi can restrain the rise of PPI (Industrial Producer Price Index).

　　Fifth, it is conducive to promoting the internationalization of RMB and creating a global financial asset allocation center for RMB.

　　Xiao Gang pointed out that if the RMB appreciates too fast, it will also bring negative effects, such as bringing difficulties to some small and medium-sized enterprises with weak export competitiveness.

Appreciation often accompanies the influx of hot money. Once hot money comes in and goes out quickly, it may exacerbate the volatility of China's foreign exchange market and capital market.

　　Xiao Gang reminded that enterprises should actively take measures to use market tools to enhance their ability to manage exchange rate risks, pay special attention to controlling overseas borrowings, and attach great importance to risk management.

(Finish)