Renminbi depreciation or will continue under export pressure

Absrtact: The latest figures released by the Bank for International Settlements show that the real effective exchange rate for the renminbi in May this year was 119 46, down 2.43% in the chain, continuing its decline since March. The renminbi's real effective exchange rate in May this year was 119, 46, down 2.43% per cent, continuing its decline since March, according to the latest data released by the BIS.　　The situation is in line with market expectations, and the renminbi will continue to depreciate in a situation where China's exports are still falling sharply, according to Zhou Zixun, an editorial at the Shanghai Securities Daily. The article said that the international market demand is depressed, for the heavily dependent on external demand economies, is a very heavy blow.　　The currencies of these economies are under great pressure of devaluation (except the yen).　　In the international market continues to shrink in the situation, although China's continuous efforts to strengthen and stabilize the export market of foreign trade, improve the proportion of export tax rebate, but May, the total value of imports and exports fell 25.9%. The article points out that as long as the economies of the developed countries do not recover, our export situation will not change much.　　Of course, because China's export trade enterprises absorb a lot of employment, so in order to maintain the stability of employment, the renminbi to maintain a small devaluation of the situation, is to safeguard the basic stability of China's export market a basic demand. However, with international market expectations of a rebound in China's economy, international capital began to return sharply, which gave the Chinese market a lot of instability, I am afraid to bring more new bubbles in the possibility of big assets.　　The article argues that, with the economic recovery in developed countries in the foreseeable future, the pattern of continued reliance on exports to sustain economic growth is hard to maintain, so the likelihood of a sharp devaluation is slim. "According to the comprehensive analysis of public media data"