There Is No Sustained Depreciation Of The Renminbi. The Underlying Brand Is Strong Enough.

Today's China still holds the dominant role of economic development in its own hands.

Entering those families who have already booked the air tickets for the trip abroad before the Spring Festival and see the enrolment of online education is so hot. As long as there is no prejudice, it is easy to feel that "the fundamentals of China's long-term economic development have not changed. The basic characteristics of economic resilience, full potential and large room for maneuver have not changed. The good support foundation and conditions for sustained economic growth have not changed, and the trend of economic structural adjustment and optimization has not changed".

Such an exposition is by no means a slogan of shouting, but based on solid facts.

Even though we still have many problems to be solved, the road ahead is not smooth, but people who really understand China will not deny that the world is a better place for China today, and will not leave space for those who are short sellers.

"Financial predators are shorting Asian currencies" and "international hedge funds openly admit to shorting the renminbi"...

Over the past few days, with Soros's "empty China" at the Davos forum, the sound of "shorting China" has also sounded.

But is it really possible to be short of China?

Not to mention, China now has a stable position in the world's second largest economy, and it is a few speculators that can shake it.

Take the "tools" in the Financial Toolbox, from the world's largest and deepest foreign exchange reserves to the establishment of a relatively complete market supervision system; from the introduction of the RMB exchange rate reform, to continuously strengthen the monitoring of short-term speculative capital flows and cross-border financial derivatives trading, China has enough and enough "strong cards" to fully handle the risk of short selling.

We should turn our attention to the beginning of this year.

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For some time, some speculators tried to profit from the speculation, resulting in abnormal fluctuations in the offshore RMB exchange rate.

In the face of speculation, the people's Bank of China has adopted measures to implement the normal reserve requirement ratio for offshore renminbi, strengthen the management of RMB liquidity and effectively stabilize the RMB.

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"China has enough tools to resist the impact of the renminbi".

Shorting the Chinese will only empty themselves.

In those days, Soros came to Hongkong with a huge sum of money to win short selling in the Southeast Asian financial market. He tried to short the Hongkong stock market, but was supported by the central government.

The strong resistance of the government ended in heavy losses and heavy losses.

Compared with less than $150 billion in foreign exchange reserves in 1998, China now has the world's largest foreign exchange reserves, up to $3 trillion and 300 billion.

Soros also had to admit that "China has resources and has wider space in choice policy than most countries".

Over the past 30 years, the process of reform and opening up has proved that those who are short of Chinese will not only be able to gain profits against the trend, but will eventually lose the opportunity to grow together with a thriving and prosperous country.

As a foreign observer pointed out, "the key to understanding China's economy is Chinese politics".

Without understanding the socialist political system with Chinese characteristics, it is difficult to discern the mystery of China's success in reform and opening up.

Since the reform and opening up, China's economy has been growing rapidly for more than 30 years, effectively suppressing the cyclical ups and downs, and maintaining a steady development trend in general.

China has both successful experience of suppressing economic overheating and realizing "soft landing", as well as successful experience in overcoming economic contraction and maintaining steady growth. It has overcome all kinds of domestic difficulties and has effectively responded to all kinds of international risks.

This is a miracle for China, a developing country with a population of more than 1 billion 300 million and a rapidly increasing market economy, which fully demonstrates the unique advantages of the socialist economic and political system with Chinese characteristics and the tremendous power of the state's macroeconomic regulation and control.