Cao Yuanzheng talks about the exchange rate of the renminbi: it is not the appreciation of the renminbi relative to the dollar, it is the dollar index that is falling

"The United States has a large amount of currency issuance, and from the perspective of the future situation, if the epidemic cannot be controlled, this currency issuance will continue, and the depreciation of the United States will become a high-probability event, not the appreciation of the renminbi against the dollar, but the appreciation of currencies in various countries against the dollar, and the decline of the dollar index, which is a very important background for the expected dollar index to 82 points." Cao Yuanzheng, Chairman of BOCI Research Co., Ltd., said so at the "2020 Global Wealth Management Forum" hosted by Caijing, Finance Think Tank and Beijing Asset Management Association on September 5.

Cao Yuanzheng, Chairman of BOCI Research Co., Ltd

Cao Yuanzheng said that from a global perspective, the situation of the epidemic is not optimistic. The world may enter an era of coexistence with the epidemic. What does this era of pandemics mean? The epidemic is a factor of production, a negative factor of production, and there will be profound changes in lifestyles and production methods, which is what people say may have industries that will not come back, and some industries may be exceptionally developed.

When talking about the issue of RMB internationalization, Cao Yuanzheng said that now the internationalization of the RMB is still a bilateral process, the RMB used by China to do business with South Korea, the RMB used by China to do business with Thailand has not yet reached multilateralization, the currency without multilateralization is not called the real international currency, South Korea and thais do business with the RMB This is the meaning of multilateralization, we are still in stage, today the total amount is still expanding, but this mechanism has not changed.