The Fed has completely miscalculated, and the yuan has staged a continuous counteroffensive!
On July 11, the Institute of Finance of the Chinese Academy of Social Sciences reported that the Fed may still raise interest rates twice this year, each time by 25 basis points; At the same time, according to CME "Fed Watch" data, the probability of a 25 basis point rate hike by the Fed in July is 92.4%.
At this time, the yuan staged a counterattack, and on July 12, the central price of the yuan against the dollar rose by 121 basis points to 7.1765.
If you stretch the timeline a bit, from July 1 to 12, the yuan has already counterattacked by 813 basis points.
Seeing that the Fed wants to further harvest the world, why has the previously fallen RMB appreciated again?
Behind the RMB counteroffensive, there are actually three major support supports.
First, traffic data soared across the board, taking airlines as an example, passengers in the first five days of July were 14% higher than the same period in 2019;
Second, the performance of automobile sales is "eye-catching", and automobile sales have improved significantly in the second quarter;
Third, the central bank and other two departments issued documents to postpone two of last year's "16 financial articles", and the real estate industry, which is the most optimistic about peripheral capital, ushered in heavy benefits.
You must know that before the US Treasury Secretary's visit to China, the US media had revealed that its focus was on the exchange rate and US Treasury bonds, and now the RMB counteroffensive, the Fed harvest has also failed. It was also at this time that the US Treasury Secretary had no choice but to showdown and could not rule out the possibility of a US recession.
Seeing this, you may ask, do you not go abroad, is there any benefit to the appreciation of the RMB?
Of course. The appreciation of the renminbi also means that the money is more valuable, so for the raw material import industry, it is relatively reduced costs, such as last year's international direct price increase, is the price of paper products such as paper drawers and paper towels in the supermarket near your home also rising? Take an enterprise in Fujian, the cost of imported pulp has also decreased due to the appreciation of the RMB, coupled with self-developed cost-reduction technology, it has not only passed the specialized and special new certification, but also received more than 5 million support.
So, what are the requirements for identifying a specialized and special new enterprise? Learn more about the reference below.
What are the conditions required for the declaration and recognition of specialized and special new small and medium-sized enterprises
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