In order to implement a series of professional activities of Enterprise Experts Entering Campus, on October 21, at the invitation of the Department of Finance of the College, Dr. Hu Yuexiao, Deputy General Manager of Shanghai Securities Research Institute, made a titled Unconventional Soldiers Water impermanence-from bulk prices to RMB exchange rate academic report. The report was presided over by Professor Sun Yingjun, the person in charge of the Master of Finance Program, and graduate students of the Department of Finance actively participated.
Dr. Hu Yuexiao’s report started from three aspects. First, he introduced us to the reshaping of the commodity price system. Through the recent ups and downs of the renminbi exchange rate, it described the increased volatility of the renminbi exchange rate during the epidemic. Then, through various detailed data, it is concluded that the financial situation is not the decisive force of the current RMB exchange rate, and that the US consumer economy is destined to be more affected by the epidemic. The continued deterioration of the epidemic has had a far greater impact on the US economy than China. If there is no new economic stimulus-the effectiveness of the new incentive policy needs to be examined, and its consumer behavior cannot catch up, economic growth cannot rebound. Then it introduces the comparison between the law of one price and the exchange rate. From an economic and financial perspective, it is difficult to get a reasonable explanation for the recent depreciation trend of the RMB against the US dollar. The last part of the content is that the pricing mechanism and bulk price structure reshaping determine the current outlook for the RMB exchange rate. As the prices of other domestic commodities follow the downward trend in the international market, the market’s expectation that China’s commodities will remain high will also change, and the RMB exchange rate will appreciate slowly. The current appreciation of the renminbi exchange rate is actually just a response to the decline in China's commodity prices and the lagging of international prices.
After the lecture, the students and Dr. Hu conducted discussions on hot issues such as digital currency. Dr. Hu gave professional answers to the questions raised by the students and the future career development plan. In this lecture, students not only learned knowledge outside of books, but also combined theory with social hotspots and social issues, allowing students to deepen their understanding of theoretical knowledge from a practical point of view, and enabling students to have a better career plan for the future Further understanding has benefited a lot.
Hu Yuexiao, Doctor of Economics, Senior Economist, Certified International Investment Analyst (CIIA), Certified Consulting Engineer (Investment), Deputy General Manager and Manager of Macro Strategy Department of Shanghai Securities Research Institute, Chief Analyst (Macro, Bonds), China Finance Academy (East China Normal University-Shanghai Municipal People's Government Development Research Center) academic expert, researcher, member of the Shanghai Municipal Finance Professional Degree Graduate Education Steering Committee.
