21社论丨内外部因素共振支撑人民币走强

Group 1 - The recent strengthening of the RMB against the USD has been attributed to rising market expectations for a Fed rate cut in December, with the RMB appreciating nearly 5% from its April low of 7.43 to around 7.07, marking a new high since October 14 of last year [1] - The RMB's appreciation is supported by positive signals in global trade, particularly a thaw in US-China trade relations, which has reduced external uncertainties for the Chinese economy [2] - Despite previous pressures from high US interest rates and trade uncertainties, China's exports have maintained strong growth, with GDP growth targets of 5% appearing more certain, reflecting the resilience of the Chinese economy [2] Group 2 - The internationalization of the RMB is gaining momentum, with the global trading volume of the RMB rising to $817 billion daily, accounting for 8.5% of global forex trading [3] - The scale of offshore RMB loans from financial institutions has reached approximately 2.5 trillion yuan, a year-on-year increase of 37.5%, indicating accelerated international use of the RMB [3] - The ongoing trend of RMB appreciation is expected to continue, supported by China's strong economic fundamentals and the broader trend of RMB internationalization [3]