摩根士丹利邢自强：人民币年内仍有升值空间

Group 1 - The core viewpoint is that the recent appreciation of the RMB is driven by the depreciation of the USD and seasonal factors related to exports and consumption before the Spring Festival [1][2] - The RMB is expected to have room for appreciation this year, with a short-term forecast of around 6.8 in the first and second quarters, although there is uncertainty for the end of the year [1][2] - It is emphasized that China cannot rely solely on RMB appreciation to address issues such as internal competition, local government incentives, and fiscal and tax system problems [1][2]