Fung Kei-shing: Renminbi breaks through 6.7 mark, momentum for appreciation remains

After the onshore renminbi exchange rate against the US dollar rose above the 6.7 mark, it continues to hover around this level. The renminbi exchange rate has continued to strengthen this year, underpinned both by the fundamentals of the mainland economy and by changes in the external market environment. Analysts believe the momentum for renminbi appreciation remains.