Multiple factors resonating together have driven the Renminbi exchange rate to reach a new high.

According to China Securities Journal, experts believe that recently, the renminbi exchange rate against the US dollar has shown a trend of stability and slight appreciation, benefiting from the overall weakness of the US dollar, the strong performance of the domestic equity market attracting foreign capital inflow, and other factors. Looking ahead, in the short term, the renminbi exchange rate against the US dollar is expected to remain strong and may see a modest appreciation in 2026.