Investment Channels in US Stock Market - The US stock market is a significant financial market attracting many investors, and understanding the main investment channels is crucial for those looking to participate [1] Brokerage Firms - Investors can choose between traditional offline brokers and modern online brokers. Traditional brokers offer comprehensive services, including professional advisory teams, in-depth market research reports, and diverse trading channels, but their service fees are relatively high, which may not be friendly for small investors [1] - Online brokers leverage the convenience of the internet to attract a large number of clients with lower trading costs. Investors can start trading in US stocks by completing registration and identity verification on their platforms, which typically offer user-friendly interfaces, real-time market data, and a variety of trading tools [1] Banks - Some large banks provide US stock investment services, benefiting from strong credibility and financial stability, which assures investors of the safety of their funds. Banks often have extensive service networks to offer face-to-face consulting services [2] - The investment products offered by banks are diverse, including direct stock investments and funds related to US stocks. However, banks may have higher investment thresholds, and the returns on investment products can be influenced by both the bank's policies and market fluctuations [2] Investment Funds - Investing in US stock funds is another common method. US stock funds are a collective investment managed by professional fund managers, allowing investors to participate in the US stock market without needing specialized stock analysis skills. The diversified investment portfolios of funds can effectively reduce the risks associated with individual stocks [2] - There are various types of US stock funds, such as index funds and actively managed funds. Index funds typically track specific US stock indices and aim to replicate their performance with lower management fees, while actively managed funds rely on the fund manager's expertise to select stocks, aiming for returns that exceed market averages, albeit with higher management fees and operational costs [2] American Depositary Receipts (ADRs) - Purchasing American Depositary Receipts (ADRs) is another way to invest in US stocks. ADRs are transferable certificates issued by US banks representing ownership of a certain number of foreign company stocks. They provide a trading channel for foreign companies not directly listed in the US, allowing investors to buy ADRs as if they were purchasing the corresponding foreign company stocks [3] - ADRs are traded similarly to domestic US stocks on US exchanges, with their price fluctuations closely related to the corresponding foreign company stocks [3]

Core Insights - The RMB to USD exchange rate remained stable on July 7, 2025, with onshore RMB (CNY) opening at 7.1641 and closing at 7.1692, while offshore RMB (CNH) opened at 7.1621 and closed at 7.1676, indicating a relatively calm market environment [3][4][6] Exchange Rate Data Analysis - On July 7, the onshore RMB reached a high of 7.1709 and a low of 7.1641, with a closing value of 7.1692, while the offshore RMB closed at 7.1676, maintaining a narrow spread of 10 basis points [3][4] - The actual exchange rate for consumers is expected to be around 7.17, factoring in bank fees [3] Factors Behind Exchange Rate Stability - Market confidence in the RMB remains stable, leading to minimal expected fluctuations [6][9] - The People's Bank of China effectively balanced liquidity and interest rates, preventing significant exchange rate volatility [6][11] - Recent improvements in export data have contributed to a more balanced foreign exchange supply and demand [4] Future Exchange Rate Predictions - The RMB to USD exchange rate is expected to fluctuate within the range of 7.15 to 7.20, with low likelihood of significant appreciation or depreciation in the short term [9][10] - Domestic economic stability and steady export growth support this outlook [9] - The nearing end of the Federal Reserve's interest rate hike cycle reduces pressure on the USD [10] Impact of Exchange Rate Fluctuations - For individuals repaying USD loans, the current exchange rate of 7.17 compared to 7.20 can save approximately 30 RMB monthly, totaling 360 RMB annually [7] - Investments in USD-denominated assets, such as US stock funds, are directly influenced by exchange rate movements [7] - Export-oriented businesses benefit from the current exchange rate range, allowing for better currency conversion and reduced financial pressure [7] Strategies for Managing Exchange Rate Volatility - Individuals should adopt a stable approach to currency exchange for travel or study, rather than attempting to time the market [12] - Export companies are advised to implement flexible, phased currency conversion strategies to mitigate short-term risks [12] - Investors in USD assets should continuously monitor Federal Reserve policies and domestic interest rates to optimize their asset allocation between RMB and USD [13]