Zhongxin Securities Mingming: The People's Bank of China's exchange rate stabilizing policy tools are sufficient, and it is expected to adjust policy intensity flexibly to alleviate potential expectations of unilateral exchange rate movements.

Ming Ming, chief economist of CITIC Securities, stated that benefiting from the overall weakness of the US dollar in the external environment, the strong stance of the People's Bank of China's stable exchange rate policy, and the attractive performance of the domestic equity market attracting foreign capital inflows, the renminbi exchange rate remains stable with a tendency to rise and overall maintains strong resilience. On the one hand, factors such as the Federal Reserve continuing to cut interest rates may continue the trend of a weak US dollar index, creating a relatively friendly external environment for the renminbi exchange rate. On the other hand, domestic fundamentals still play a supporting role in the exchange rate. With regard to the policy tools for stabilizing the exchange rate, Ming Ming believes that the People's Bank of China has sufficient reserves of stabilization policy tools, uses them with appropriate intervals, and is expected to adjust policy measures flexibly to ease the potential expectation of unilateral exchange rate movements.