Huang Qifa: In the next ten years, the Renminbi will gradually appreciate to around 6.0.

On December 21, 2025, at the Shenzhen Xiangmi Lake Financial Annual Meeting, Huang Qifan, the former mayor of Chongqing, put forward some insights on China's economic development. Huang Qifan pointed out that China should promote balanced import and export, improve trade quality, and enhance the internationalization level of the RMB. On the one hand, by moderately appreciating the exchange rate, increasing the purchasing power of the RMB, promoting import growth, and helping to achieve the goal of doubling per capita GDP in the medium to long term when priced in US dollars. In Huang Qifan's view, the exchange rate of the RMB against the US dollar in the next ten years will gradually appreciate from 7.0 to around 6.0. On the other hand, according to industry differences and overall needs, the scale of export tax rebates will be moderately reduced, and more fiscal resources will be used for domestic livelihoods and innovation development.