Wen Bin, chief economist at China Minsheng Bank, believes that the recent acceleration in the appreciation of the RMB against the US dollar is mainly supported by factors such as the weakening of the US dollar, the resilience of China's exports, and the increase in the attractiveness of RMB assets. Towards the end of the year, corporate settlement demand has reached a seasonal peak. There are opinions that the recent appreciation of RMB is driven by a “settlement wave.” In response, Guan Tao, the world's chief economist at BOC Securities, believes that the data shows that the exchange rate for receiving and settlement and the exchange rate for foreign exchange payments all declined sequentially in November. Behind this phenomenon, enterprises are more choosing to use their foreign exchange earnings to cover foreign exchange expenses and avoid exchange rate risks through natural hedging rather than blindly settling or buying foreign exchange. This also reflects the increasing adaptability of the market to two-way exchange rate fluctuations. Exchange rate changes are directly linked to residents' lives and business operations. What impact will the strengthening of the RMB exchange rate have on residents? On the positive side, after the RMB appreciated, the costs of cross-border consumption, study abroad, and travel were significantly reduced, and more US dollars can be exchanged during foreign exchange. For example, in exchange for tuition fees of 10,000 US dollars, the current RMB exchange rate can save about 3,000 yuan compared to 7.3 o'clock, and the shopping, food and lodging expenses for outbound tourists have also been reduced accordingly.

Wen Bin, chief economist at China Minsheng Bank, believes that the recent acceleration in the appreciation of the RMB against the US dollar is mainly supported by factors such as the weakening of the US dollar, the resilience of China's exports, and the increase in the attractiveness of RMB assets. Towards the end of the year, corporate settlement demand has reached a seasonal peak. There are opinions that the recent appreciation of RMB is driven by a “settlement wave.” In response, Guan Tao, the world's chief economist at BOC Securities, believes that the data shows that the exchange rate for receiving and settlement and the exchange rate for foreign exchange payments all declined sequentially in November. Behind this phenomenon, enterprises are more choosing to use their foreign exchange earnings to cover foreign exchange expenses and avoid exchange rate risks through natural hedging rather than blindly settling or buying foreign exchange. This also reflects the increasing adaptability of the market to two-way exchange rate fluctuations. Exchange rate changes are directly linked to residents' lives and business operations. What impact will the strengthening of the RMB exchange rate have on residents? On the positive side, after the RMB appreciated, the costs of cross-border consumption, study abroad, and travel were significantly reduced, and more US dollars can be exchanged during foreign exchange. For example, in exchange for tuition fees of 10,000 US dollars, the current RMB exchange rate can save about 3,000 yuan compared to 7.3 o'clock, and the shopping, food and lodging expenses for outbound tourists have also been reduced accordingly.