Exchange rate fluctuation does not change foreign capital to increase its holdings of Chinese assets

On September 7, the intermediate price of the RMB exchange rate of the inter -bank foreign exchange market was 1 USD 1 to RMB 6.9160, a decrease of 64 basis points from the previous trading day. Affected by the foreign exchange market and other factors, foreign capital has a case of structural reduction in some Chinese assets. However, public data shows that foreign capital increases its holdings of Chinese assets.

According to the equity disclosure information of the Hong Kong Stock Exchange on September 6, Morgan Chase increased its holdings of approximately HK $ 423 million in Xiaopeng Automobile on September 1, an increase of 4.66%to 5.12%. In addition, from the recent positions released by foreign institutions such as JP Morgan Chase, Belle, and Angben's recent announcement, its funds have increased their positions in Ningde Times, Industrial Bank, and Moutai in Guizhou.

A number of foreign institutions have also recently stated frequently that the influence of short -term exchange rate fluctuations is limited, and it will continue to be optimistic about investment opportunities in the Chinese stock market and bond market. In the first eight months of this year, foreign capital flowed through the CSICS of more than 60 billion yuan in A shares.

From a deeper point of view, although the RMB exchange rate on the US dollar has depreciated, the range is much lower than other currencies. The normal formation of the two -way fluctuations of the RMB exchange rate provides support for China's assets "more and more fragrant".

According to the data of China Foreign Exchange Trading Center, the three major currency basket indexes (only announcement of weekly data and monthly data) on September 2nd, the CFETS RMB exchange rate index rose 0.1 to 102.02, the BIS currency basket RMB exchange rate index rose 0.13 to 107.4, The SDR currency basket RMB exchange rate index fell 0.24 to 100.13.

Compared with the appreciation of the US dollar and the depreciation of the currency of other major economies, the overall RMB exchange rate remains stable, and the available tools for the central bank's stable exchange market are still relatively rich. For example, the central bank has successfully issued five RMB central tickets in Hong Kong, China this year. The latest issue was on the day of the LPR interest rate on August 22. The central bank's issuance of RMB central tickets in Hong Kong is considered one of the expected measures to stabilize the exchange rate. For another example, on September 5, the central bank announced that it will implement the second foreign exchange "reduction" during the year 15 this month, with a range of 2 percentage points to enhance the liquidity of foreign exchange funds in financial institutions.

The central bank issued RMB central tickets in Hong Kong, which has been actively subscribed by institutional investors and international financial organizations in many countries and regions. The total bidding is often several times the issuance of issuance. This shows the strong attraction of Chinese assets to overseas investors and the confidence of global investors in the Chinese economy.

my country's foreign exchange market has strong toughness, and has the foundation and conditions to maintain smooth operation. At the same time, the domestic economic recovery and long -term good fundamentals will not change. These factors have strengthened the value preservation and value -added function of Chinese assets, and foreign capital will not be blind. (Yan Yue)

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