Major Statement from the Central Bank: How Should We View the RMB Exchange Rate?
智通财经2026/10/09 01:06Many traditional views hold that the RMB exchange rate is solely determined by the central bank, appreciating or depreciating at its discretion. This is a major misconception. In its latest statement, the central bank has once again reiterated that China is committed to allowing the market to play a decisive role in exchange rate formation. China implements a market-based exchange rate regime and has completely withdrawn from regular interventions since 2017. In the future, the RMB exchange rate will not be deliberately appreciated or depreciated. China will continue to respect the market, uphold bottom lines, avoid gaming, and refrain from manipulation. This is the most fundamental and certain long-term trend for the RMB exchange rate in the coming years. (CCTV)
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