On February 25, the offshore renminbi stabilized in early trading and once again broke through the 6.69 mark. Both onshore and offshore RMB exchange rates against the US dollar have set new highs since July 2018.
If you count from the beginning of 2019, the offshore RMB has risen more than 1800 points.
If the renminbi is converted from a stagnation to a turning point in early November 2018, the cumulative appreciation of the onshore and offshore renminbi against the US dollar will exceed 3,000 points.
Enterprises with more export and foreign currency claims have to bear greater pressure.