Group 1 - The core viewpoint is that confidence in Chinese assets is recovering, as evidenced by the strengthening of the RMB and the rise of the Nasdaq Golden Dragon China Index [1][3] - The onshore and offshore RMB exchange rates have risen for three consecutive days, approaching the significant level of 7.15, despite the People's Bank of China setting the midpoint rate lower at 7.1188 [1] - The Nasdaq Golden Dragon China Index has achieved five consecutive gains, reaching its highest level since March 20, indicating a significant improvement in overseas investor sentiment [3] Group 2 - Positive signals from improved China-U.S. relations and domestic policies aimed at supporting the AI sector are enhancing market sentiment [5] - There is a potential shift in the core logic of asset pricing in the Chinese market, with a focus on the recovery of the Producer Price Index (PPI) and the possibility of a transition in asset styles [5] - If policies aimed at improving corporate competition, such as "anti-involution," are effectively implemented, it could lead to a rise in inflation in the real economy, prompting a transition to a more favorable asset style [5] Group 3 - The direction of the RMB exchange rate is a key variable in the current asset revaluation, with strong export performance supporting the currency [6] - There is an expectation that if the U.S. dollar enters a depreciation cycle, foreign capital will likely increase its holdings of Chinese equity assets [6] - September is seen as a critical observation window, where a potential interest rate cut by the Federal Reserve could create favorable conditions for RMB appreciation [6]
中国资产重估:人民币逼近7.15,中概五连涨创5个月新高
Hua Er Jie Jian Wen·2025-08-27 00:20