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China's forex market is easily influenced by irrational expectations and spurred by inertia, due to a certain level of "pro-cyclicality," which distorts market demand and supply, and magnifies the risk of exchange rate overcorrection, the CFETS said in a statement.
China's foreign exchange reserves in August increased for the seventh consecutive month, adding evidence for a stabilizing trend of the country's cross-border capital flows.
China's export of epidemic prevention and control supplies surged sharply in the first half of the year. China's textile exports, including masks, rose 32.4 percent year-on-year. In the same period, exports of medical materials and medicines increased 23.6 percent and those of medical equipment and devices 46.4 percent.
China's online healthcare market is expected to see explosive growth this year as the COVID-19 pandemic has accelerated the digitalization of the healthcare services industry along with the adoption of state-of-the-art technologies such as 5G and the internet of things.
China's consumer price index, a main gauge of inflation, rose by 4.5 percent year-on-year in December, the same as the previous month, breaking a three-month streak of rising consumer inflation, the National Bureau of Statistics said on Thursday.
