Foreign Exchange Administration: In recent years, the RMB exchange rate has become more flexible in both directions, and companies need to adhere to the concept of exchange rate risk neutrality more than ever.

On July 17, Li Bin, Deputy Director of the State Administration of Foreign Exchange, stated at a press conference of the State Council Information Office that the exchange rate is determined by market supply and demand and is difficult to predict. In recent years, the two-way floating exchange rate of the Renminbi has been enhanced, and enterprises need to adhere to the concept of exchange rate risk neutrality, take proactive measures to manage exchange rate risks, and minimize the impact of exchange rate fluctuations on their core business and finances as much as possible. The Foreign Exchange Administration, together with relevant departments and financial institutions, will continue to strengthen the promotion of the concept of exchange rate risk neutrality, focus on guiding enterprises to pay attention to changes in the market environment, enhance risk awareness, and improve autonomous decision-making.