Deutsche Bank: Tariff reductions support bullish views on the Renminbi

Recently, Deutsche Bank's Chief Economist for China, Xiong Yihua, and Deutsche Bank's Asia Macro Strategy Analyst, Perry Kojodjojo, released a research report analyzing the key economic points of this tariff adjustment. In April of this year, Deutsche Bank's research suggested a bullish outlook for the offshore Renminbi, and the further decline in tariffs further supported this forecast. At the same time, they believe there is room for further upward revision of China's economic growth forecast. Given the goal of achieving a growth rate of around "5%" for the whole year, it is expected that China will adopt more proactive policies.