On April 17, the USD/CNY central parity was set at 6.8622, down 6 pips. Supported by robust Q1 trade and economic recovery, the renminbi remained resilient with cross-border capital flows steady.

China-Europe Railway Express freight volume rose 22% year-on-year, facilitating RMB settlement in cross-border trade. The PBOC pledged enhanced policy coordination at the G20 to promote global rebalancing and currency stability.

High-tech exports, including new energy vehicles and solar products, grew rapidly. The sharp import increase reflected recovering domestic demand. Future focus will be on Fed policy, Middle East tensions, trade structure and new business models to sustain momentum.