The RMB exchange rate rose strongly! Expert: There is a foundation for maintaining stability

On January 24th, the exchange rate of the RMB against the US dollar rose sharply, recovering the 7.24 yuan mark during the session. "The sharp rise of the RMB exchange rate is mainly affected by the news." Pang Ming, a special senior researcher at the National Financial and Development Laboratory, said that the market generally hopes that the uncertainty of the external environment will be reduced, which makes the RMB exchange rate supported in sentiment and fundamentals. The key to stabilizing the exchange rate is to stabilize the economy. Guan Tao, global chief economist at Bank of China Securities, said that stabilizing the exchange rate is more about buying time for domestic economic adjustment. At the same time, the People's Bank of China has accumulated rich experience in dealing with external shocks for many years. Therefore, the RMB exchange rate has the conditions to maintain basic stability. Looking forward to 2025, the report of the South East Asia Research Center of the Industrial and Commercial Bank of China (Asia) believes that the continuous improvement of China's commodity competitiveness provides export growth resilience, domestic demand support policies continue to be effective, superimposed on innovative capital markets policy tools gradually normalized, low valuation of RMB financial assets and other factors to boost the two-way fluctuation of RMB exchange rate is still the norm.