In the month of October, concerning Renminbi"s exchange rate depreciation against the dollar, the market generally focuses on the possibility of Renminbi exchange rate would fall below 7.0, and worries about the acceleration of the outflow of China’s domestic capital. Anbound’s senior researcher Chen Gong believes that stabilizing Renminbi has become China’s primary strategic task, and this is determined by the special conditions of China. However, excessive policy control and action will further trigger capital outflow, contrary to the expectations. China should the domestic and foreign demand for Renminbi, and accelerate the pace of domestic reform.
