Recently the exchange rate of Chinese currency CNY continually rises against US dollars, The exchange rate between the Chinese currency against US dollar hit 6.5 during Saturday’s trading sessions.
The yuan’s gain in value is also boosted by a steady inflow of foreign capital to China, which will further strengthen the currency’s appreciation, according to a research note by the foreign exchange team of CICC Research.
A strong yuan is backed by a robust Chinese economy supported by the country’s effective measures to contain the coronavirus, Cao noted. And the currency has helped shield Asia’s emerging markets from capital exodus, typically seen when developed market interest rates rise.
With China’s exports and imports topping $6 trillion for the first time in 2021, a record high, the use of yuan in trade settlement has also increased.
While the US central bank is almost certain to raise rates, the People’s Bank of China (PBC), China’s central bank, is expected to pursue targeted policy easing to bolster GDP growth.
So any customer has got quotation from us, or has not contacted us yet, we very much welcome you come to us for an updated quotation.
While the price of raw materials wooden pulp and SAP (super absorbent polymer) has been going up in the mean time, thus resulting in price going up of the finished products such as baby diaper, adult diaper and female sanitary pad.
However, these changes will not affect the enquiry and investment of our customers. If you are interested in investing a hygiene products making machine, please always feel free to contact us for free consultancy. We will try our best to serve you.