The RMB exchange rate will be affected by short-term factors in the future

Huitong Network3month5Daily News - Pan Gongsheng, Vice President of the People's Bank of China, Sunday(3month5day)It is stated that the RMB exchange rate will be affected by short-term factors in the future, but will eventually return to fundamentals; Chinaforeign exchangeAbundant reserves, and multiple indicators have a common direction, the foreign exchange market is trending towards stability.

The People's Bank of China: Abundant foreign reserves, stable foreign exchange market, and great potential for bond market opening  

He made the above statement in the ministerial channel before the opening of the National People's Congress. In addition, Xinhua News Agency quoted Pan Gongsheng as saying during his attendance at the CPPCC meeting on Saturday that there is still great potential for China to open up its bond market to the outside world, and there is still a lot of work to be done to help foreign bond investors invest more conveniently.
   
China1The scale of monthly foreign exchange reserves has fallen below3Trillion dollars. Pan Gongsheng believes that foreign exchange reserves are a continuous variable, and the integer threshold is meaningless. "Whether measured by various traditional international indicators or the latest indicators proposed by scholars, China's foreign exchange reserves are very sufficient."
　　
He said that based on the published data, the current foreign exchange market situation is relatively balanced, cross-border capital flows are showing equilibrium, market expectations are relatively stable, and the RMB exchange rate is fluctuating in both directions and tending towards equilibrium.
  
As for the opening up of the bond market, Pan Gongsheng said frankly that the proportion of foreign investors investing in China's bond market is still low, only1.2%-1.3%Therefore, there is still great potential for the bond market to open up to the outside world.
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