On January 9th, the central parity of RMB against the US dollar was reported at 6.8265, the highest since August 22nd, 2022, with an increase of 647 basis points, the largest increase since December 2nd, 2022. Both onshore and offshore RMB rose above 6.8.

Since the beginning of this year, the spot exchange rate of RMB against the US dollar has appreciated by more than 2%, and the offshore RMB against the US dollar has appreciated by 1.7%.

With the appreciation of the RMB, we have confidence in the future of China, and more capital will be invested in China to promote a virtuous circle of the economy. Only then will everyone take out their savings for consumption, and the market demand will pick up.