By the end of the year, foreign trade companies' demand for remittance settlement was released centrally. Interviewees pointed out that in the context of heightened expectations of RMB appreciation, enterprises tend to speed up the settlement of foreign exchange funds accumulated earlier; while the increase in the scale of settlement will further increase the market's foreign exchange supply and strengthen demand for RMB, thereby strengthening the RMB exchange rate and forming a mutually reinforcing positive feedback mechanism. The CITIC Securities team clearly believes that the US dollar index may continue to weaken in 2026, creating a friendly external environment for the RMB. The People's Bank of China's relaxed exchange rate stabilization policy is expected to enhance the resilience of the RMB. If domestic policies work together to drive economic recovery, internal and external factors will resonate or catalyze the exchange rate center to break “7.” In this context, the institutions interviewed generally believe that enterprises should establish a “risk-neutral” financial concept, plan ahead, and take safe haven scientifically to minimize the risks caused by exchange rate fluctuations.

By the end of the year, foreign trade companies' demand for remittance settlement was released centrally. Interviewees pointed out that in the context of heightened expectations of RMB appreciation, enterprises tend to speed up the settlement of foreign exchange funds accumulated earlier; while the increase in the scale of settlement will further increase the market's foreign exchange supply and strengthen demand for RMB, thereby strengthening the RMB exchange rate and forming a mutually reinforcing positive feedback mechanism. The CITIC Securities team clearly believes that the US dollar index may continue to weaken in 2026, creating a friendly external environment for the RMB. The People's Bank of China's relaxed exchange rate stabilization policy is expected to enhance the resilience of the RMB. If domestic policies work together to drive economic recovery, internal and external factors will resonate or catalyze the exchange rate center to break “7.” In this context, the institutions interviewed generally believe that enterprises should establish a “risk-neutral” financial concept, plan ahead, and take safe haven scientifically to minimize the risks caused by exchange rate fluctuations.