On January 18, a media meeting of the Economic Committee of the National Committee of the Chinese People's Political Consultative Conference was held in Beijing. Xiao Gang, a member of the National Committee of the Chinese People's Political Consultative Conference and former chairman of the China Securities Regulatory Commission, said at the meeting that the main reason for the appreciation of the RMB exchange rate since 2021 is the combination of trade in goods and capital projects. The surplus fundamentally reflects the long-term positive fundamentals of China's economy, as well as the achievements of China's further acceleration of reform and opening up.
Future changes in the exchange rate of the RMB will depend on the economic situation at home and abroad, China's balance of payments and changes in the international foreign exchange market.
Xiao Gang believes 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 normal state, but it will remain basically stable at a reasonable and balanced level.
(Reporter Liu Chao produced Sui Zhiyuan)
Responsible editor: [Li Ji]