Core Viewpoint - The former mayor of Chongqing and economist Huang Qifan predicts that the RMB will gradually appreciate against the USD over the next decade, potentially reaching around 6 from its current level above 7, driven by the natural results of China's high-quality economic development [1]. Group 1: Economic Transition - China's manufacturing is shifting from "quantity" to "quality," with industrial added value accounting for 32% of the global total, establishing a competitive advantage in sectors like automotive, shipbuilding, high-speed rail, and renewable energy [3]. - The structure of exports has changed significantly, with 60% now being high-end equipment and electronic products, indicating a move away from low-cost competition towards value-added products [3]. Group 2: Supply Chain Independence - China has achieved significant autonomy in its industrial supply chain, with over 80% of export products having more than 80% domestic added value, reducing reliance on processing trade [5]. - This shift means that China is no longer just a processing hub but is exporting with its own technology and brands, necessitating stronger domestic currency support [5]. Group 3: Foreign Investment Dynamics - Despite external pressures, China's actual foreign investment usage has doubled over the past decade, averaging about $120 billion annually, with a shift from quantity to quality in foreign investments [6]. - Foreign enterprises contribute significantly to China's exports, accounting for 30% of total exports and 50% of high-value-added product exports, which supports the demand for RMB [6]. Group 4: Implications of RMB Appreciation - For consumers, an appreciation of the RMB means cheaper imports, potentially lowering costs for education, luxury goods, and travel [8]. - For businesses, it will necessitate upgrades and discourage low-margin export strategies, promoting only those with technology and brand strength to thrive internationally [8]. Group 5: Investment Strategy Adjustments - Investors holding significant USD assets may face depreciation in value when converted back to RMB, while investments in high-quality Chinese assets could yield benefits from both economic fundamentals and currency appreciation [9]. - Huang Qifan emphasizes a gradual appreciation of the RMB, predicting that by 2035, China's per capita GDP in USD could rise from $13,000 to between $25,000 and $26,000, partly due to currency appreciation effects [9].

Group 1 - China's foreign trade achievements are a natural result of deep transformation and high-quality development in the manufacturing sector over the past decade [2] - China's industrial added value accounts for 32% of the global total, establishing a "one-third" structure where Chinese manufacturing represents one-third, developed countries one-third, and other developing countries one-third [2] - China has formed global competitive advantages in five key sectors: automotive, shipbuilding, high-speed rail, power equipment, and renewable energy (photovoltaics) [2] Group 2 - The structure of foreign investment in China continues to optimize, with actual foreign investment doubling over the past decade to an average of approximately $120 billion annually [3] - Foreign-funded enterprises contribute about 30% of national exports, 50% of high-value-added equipment and electronic product exports, and 15% of industrial and commercial tax revenue [3] - Exports have shifted from a focus on processing trade to a cluster-based export model with embedded domestic value [3] Group 3 - China should promote a balanced approach to imports and exports, enhance trade quality, and increase the internationalization of the Renminbi [4] - An appropriate appreciation of the Renminbi is suggested to enhance purchasing power and promote import growth, aiming for a doubling of per capita GDP in USD terms over the medium to long term [4] Group 4 - It is recommended to moderately reduce export tax rebates based on industry differences and overall needs, reallocating fiscal resources to domestic welfare and innovation [5] - There is an emphasis on improving minimum wage standards and implementing paid leave to promote common prosperity and consumption upgrades [5] Group 5 - The need to prevent "involution" domestically from affecting international trade is highlighted, with a focus on enhancing the brand value and overall profit levels of Chinese manufacturing [6] - China aims to improve service trade, targeting that by 2040, service trade will account for 20% of the total volume of goods and service trade, aligning with the global average [6]

Funding Support for Rural Collective Economy - The provincial finance has allocated 270 million yuan to support the development of new rural collective economy projects across various regions [1] - 160 million yuan is designated for 539 administrative villages to explore diverse approaches for developing new rural collective economy projects in 2025 [1] - 110 million yuan is allocated as remaining subsidy funds based on the performance of fiscal fund usage for projects in 2024 [1] Specific Project Examples - Lian Village in Wuxi plans to invest 4.5 million yuan to build a 12,000 square meter flower base project, with 1.35 million yuan from fiscal subsidies and 3.15 million yuan from self-raised funds, expecting an increase of 500,000 yuan in collective income [1] - The village also plans to invest 1.15 million yuan in a 25-acre shared vegetable garden project, with 1 million yuan from fiscal subsidies, anticipating an increase of 90,000 yuan in collective income [1] - The collective operating income of Lian Village is projected to reach 3.2443 million yuan in 2024 and 4 million yuan in 2025 [1] Collaboration for Renewable Energy - Two villages, Nizhuang and Liuci, have decided to collaborate on a photovoltaic power generation project due to a lack of space and resources [2] - The project will utilize 6,800 square meters of rooftop space from Liuci Village's industrial park to build a 660 kW solar power station, expected to generate 800,000 kWh annually, increasing each village's collective income by 160,000 yuan [2] Long-term Financial Commitment - During the 14th Five-Year Plan period, the provincial finance has allocated a total of 2.2 billion yuan to support over 3,000 administrative villages in developing new rural collective economy projects [2] - The provincial finance department aims to optimize fund performance management and enhance project tracking to ensure effective use of financial resources for rural revitalization [2]