With
Jason Lui, Head of East Asia Strategy

Ju Wang, Head of Greater China FX & Rates Strategy  

BNP Paribas | Global Markets (Recorded 13 May 2022) 

While the recent RMB weakness bears some resemblance to the H2 2015 devaluation cycle, we believe the Chinese equities should fare better than previous RMB depreciation cycles. We expect the RMB to act as a shock-absorber rather than constrain macro policy, with a weaker RMB eventually helping to loosen monetary conditions.  

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