Economic Daily: A variety of factors support the strengthening of the Renminbi exchange rate.

Recently, the exchange rate of the RMB against the US dollar has shown a trend of strengthening. Wind data shows that in August, the onshore and offshore RMB against the US dollar both increased by 0.83% and 1.21% respectively. In this context, the RMB central parity rate also hit a new low for the year, approaching the level of 7.1. On September 9, the RMB against the US dollar central parity rate was raised by 21 basis points to 7.1008. Experts believe that the recent rapid rise in the RMB exchange rate is mainly driven by multiple factors both internally and externally, including the relatively weak performance of the US dollar index creating a relatively mild external environment, strong exchange rate expectations released by the RMB against the US dollar central parity rate quote, and the attractive performance of the domestic equity market in recent times attracting some foreign capital inflows. Looking ahead, the RMB exchange rate will maintain basic stability at a reasonable and balanced level.