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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 economy shrank by 6.8 percent year-on-year in the first quarter as the virus outbreak dealt a huge blow to economic activity. While the epidemic has been basically brought under control domestically, economic activities remain on the road to recovery.
China's intellectual property comprehensive development index has risen significantly in the past decade, according to a report released on Monday.
China's early recovery from the COVID-19 pandemic, the rebounding consumption levels and efficient production resumption have helped global companies in China to remain viable and profitable compared with other parts of the world, said Julien Hueber, executive vice-president of Industry Solution and Project Business Group at Nexans, a French cable manufacturer.
China's improving industrial profits in April, bolstered mainly by high profit margins in the steel, chemical and auto industries, show that the world's second-largest economy remains resilient, analysts said.
