Since the beginning of this year, our RMB exchange rate seems to have come out of the trend of interest rate bottoming, from 738 counts, at present, nearly 2,000 basis points.
I am more concerned about the internationalization of the renminbi than the exchange rate. At present, according to the data of the international SWIFT, the proportion of the yuan is stable and rising, and what is even more surprising is that the yuan has replaced the dollar in Russia.
According to Russian data, the RMB is already the largest foreign exchange in Russia's ** settlement, and the turnover has skyrocketed by 85 times compared with last year!
Here, we do not say thank you for the war between Russia and Ukraine, after all, countless lives and homes have been lost. However, it is indeed thanks to the suppression of Europe and the United States that this has made a big step forward in the internationalization of the renminbi. Behind the internationalization of the RMB, what is more important is that our ** amount continues to grow year-on-year, hitting a record high.
The most surprising thing is that China's automobile exports have shown explosive growth, with production and sales of 30 million units last year, surpassing Japan in terms of export volume and export value, becoming the world's largest automobile exporter and the world's largest automobile consumer and producer. At present, domestic cars are not only superior in quantity, but also in new energy, domestic high-end models also firmly grasp the minds of users.
In addition to automobiles, PV exports have also grown significantly, and we are currently the world's largest PV producer and exporter. It can be said that in the manufacturing industry, there may only be high-end chips and machine tools, which we still have not fully conquered.
I've never been worried about our capabilities on the production side, from 1 to 100, which is where China has the biggest advantage, I used to think it would take 10 years to conquer high-end chips, but now, I think it's okay in 5 years.