The exchange rate of RMB against the US dollar has risen six times in six trading days since the beginning of 2023, entering the 6.7 yuan range. The news of the recent rise above 6.77 is also on the hot search, triggering hot debate! The rise of the RMB brings a new look to the start of the year 2023 for the economic market, and also boosts market confidence.
Taken together, China’s economic repair to the upside, increased foreign capital inflows and seasonal willingness to settle and sell foreign exchange are the main reasons for this round of RMB exchange rate appreciation. In 2022, China’s economy has withstood the pressure and maintained a stable trend. Recently, thanks to the effect of growth stabilization policies, economic activities recovered rapidly, giving more premium to our assets and even the RMB exchange rate, which was able to move ahead in a basket of currencies.
Cross-border capital inflows have increased, providing strong support to the RMB exchange rate. The optimization and adjustment of China’s policies on COVID-19 prevention and control in recent months has also led to a more optimistic and positive outlook for China’s economy in 2023, further enhancing the attractiveness of the market and investment. Wang Youxin, a senior researcher at Bank of China, stated that social life is now starting to gradually return to the right track and outdoor consumption activities have increased, which has further boosted market confidence in China’s accelerated economic recovery in 2023. Also, the recent sustained fall in the US dollar index, influenced by factors such as weakening expectations of a Fed interest rate hike, was one of the thrusts behind the strengthening of the RMB. The risk of a hard landing in the economy has increased as the manufacturing and non-manufacturing PMI continue to weaken in the U.S. Wind data shows that the U.S. dollar index has fallen by more than 6% in aggregate since November 2022.
All this foretells that in 2023 China’s foreign trade market is developing for the better. The loosening of COVID-19 in China also promotes the further development of the foreign trade market economy, which, together with China’s policy support for the foreign trade market, means that foreign trade business will be simpler and more prosperous. It is undoubtedly good news for us foreign trade people. This trend has led to an increase in the price of export diapers fob US dollars, our Yibero brand is going out to sea in the hot. We offer adult trousers, adult pull, wet wipes, baby trousers, baby pull, nursing pads, etc. We expect more customers to import Yibero’s products and support small moq purchases.
Chinese New Year is around the corner, we have a holiday from the Beijing time 2023.01.16-2023.01.28 .Our business operation will back to normal on Jan.29th.If you have any issue during the holidays, please feel free to contact us. Thank you for your understanding and support. We wish you the very best for the New Year!
Faith of Jiayue：
- Jiayue believes stable quality is key to a brand. Jiayue consistent quality will help bring you customer loyalty and reputation.
- Jiayue believes quick response is key to business communication. Our fast reply will get your questions and problems solved quickly.
- Jiayue believes saving cost is important . Our compact design and skillful loading will increase the loading capacity by 10%.
- Jiayue believes unique design is first step to attract customers. Jiayue offers different designs for you to select the best for the market without charge.
- Jiayue believes strong supplying capability is fundamental to make a big brand. We export more than 100 containers every month, and are able to deal with large orders.
- Jiayue believes efficient sourcing is essential to clients. Jiayue one stop service will save your time to develop all sanitary products, including diaper, wet wipes, under pads, sanitary napkins, raw materials, etc.
- Jiayue believe every little effort to assist our clients is worthy. We can help you design the posters for good promotion and market development.
- Jiayue believe good machine is the key to produce quality diaper. Our most advanced machine will enable you to sell diapers of high technique.
- Jiayue believe honesty and friendship is also important. We can be your eyes and ears in China, and we can also be your reliable friends, working and moving to a better future together.