The Central Mama Is Pressing Hard To Bear The Bruise.

At the beginning of this year, after the Central Bank of China broke up the offshore renminbi, the bears were "scarred".

In view of the determination of the Chinese central bank to maintain the stability of the RMB exchange rate, hedge funds looking for the yuan have to find new targets. They are increasing the strength of the RMB proxy currency.

According to Peng Bo, Crescat Capital of Colorado, USA is tracking down the ETF of Chinese and Korean stocks, while Hongkong Bright Stream Capital Management likes to win the won and Taiwan dollar.

As China is the largest export market of these countries, the exchange rate of the won and Taiwan dollar will usually decline when the market is pessimistic about China.

The Crescat Capital short sale of ETF is quite profitable, with a return of 4.4% in January.

Driven by ntnt and won, the Bright Stream Capital Management's macro fund rose by 2.8%.

Bloomberg quoted Ka-hay Yip, a former SAC Capital manager and now manages Bright Stream $36 million fund, to say that these currencies have better liquidity and relatively low interest rates. Therefore, short selling spreads will not be so bad. Central banks in these places will not be as ruthless as the people's Bank of China, and the new capital controls related to these currencies are at a relatively low risk.

At the beginning of this year, when the Central Bank of China broke the bear in early January, the bears began looking for alternatives to the renminbi.

The likes of the target include the world's largest compressor manufacturer, Sweden's Atlas Copco AB, American mechanical manufacturer Caterpillar, mining giant Rio Tinto, Canadian dollar and Australian dollar.

In November 19th last year, Hongkong Oriental Daily said the central bank's window guidance was part of the territory.

Suspension of cross-border financing for offshore renminbi bank accounts.

Subsequently, the domestic bond repurchase paction of the offshore RMB clearing bank was also suspended.

According to Reuters, Peng Bo and other media reports, the Central Bank of China will, from January 25th of this year, participate in the RMB deposit of the domestic agent banks to carry out the normal deposit reserve ratio for the offshore RMB business, that is, the domestic agent bank will carry out the current statutory reserve requirement ratio.

In January 12th, the Hongkong interbank overnight rate (Hibor) rose to a record high of 66.82%, and the renminbi bears were "scarred".

Last December,

The window instruct the suspension institution to apply for the new RQDII (RMB qualified domestic institutional investor) related business.

In the same month, foreign media said that the central bank's window guidance suspended foreign businesses' cross-border businesses and their participation in foreign exchange business, and the suspended foreign exchange businesses, including spot stocks, etc.

In January 12th this year, foreign media said that the safe requested some domestic banks to manage the net outflow of capital under the capital account, reduce the cross-border concentrated outflow of RMB in the short term, and reduce offshore renminbi positions and liquidity.

The specific requirements include the management of inter agency account financing, RMB lending abroad, and the net outflow of cross-border RMB capital pools.

Wall Street noted that during the two sessions, the RMB exchange rate remained relatively stable.

On Friday morning, offshore renminbi hit 6.5037 against the US dollar, rising about 190 points a day, the biggest gain in a month.

In March 4th, the RMB exchange rate between the two sides of the Taiwan Strait was once a hundred point upside down.

At present, the renminbi is relatively stable against the US dollar at 6.5130.