State Administration of Foreign Exchange (SAFE) Li Bin: In the first half of the year, the exchange rate of RMB against the US dollar appreciated by 1.9%.

Li Bin, deputy director and spokesperson of the State Administration of Foreign Exchange, stated at a press conference held by the State Council Information Office on July 22 that the exchange rate of the Renminbi remained basically stable in the first half of the year. In the first half of this year, the Renminbi appreciated by 1.9% against the US dollar. The Renminbi exchange rate against the US dollar fluctuated bidirectionally in the range of 7.15 to 7.35 in the first half of the year, maintaining basic stability at a reasonable and balanced level, and playing a role as an automatic stabilizer for adjusting the macroeconomic and international balance of payments.