# China’s surging yuan allows Beijing greater financial flexibility, creating capital markets ‘too big to ignore’ | South China Morning Post

> The CFETS RMB basket index, which measures the yuan against a basket of currencies, rose to 98.70 on July 23, its highest level since March 2016. The strength reflects China's large current account surplus, strong exports and a growing trade surplus.

- Date: 2021-07-26 · published 2021-07-26T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/46288-china-s-surging-yuan-allows-beijing-greater-financial-flexibility-creating
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A stronger yuan lowers the local-currency cost of dollar-priced imports, which can support Chinese demand for feed. The currency trend is a background factor rather than a direct driver of grain prices.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2026-07-31 | [China’s offshore yuan hits 3-year high as Beijing signals policy support \| South China Morning Post](https://feedsoft.ai/events/18569-china-s-offshore-yuan-hits-3-year-high-as-beijing-signals-policy-support-south.md) | -0.1% | -0.5% |
| USDCNY | 2022-06-29 | [China's yuan firms as Beijing eases quarantine rules \| Financial Post](https://feedsoft.ai/events/41167-china-s-yuan-firms-as-beijing-eases-quarantine-rules-financial-post.md) | 0.0% | +0.7% |
| USDCNY | 2025-11-26 | [China sets strongest yuan fix in over a year as Fed-cut bets rise \| South China Morning Post](https://feedsoft.ai/events/22172-china-sets-strongest-yuan-fix-in-over-a-year-as-fed-cut-bets-rise-south-china.md) | -0.3% | -1.0% |
| USDCNY | 2021-02-09 | [Opinion \| Why a stronger yuan is still in China’s best interests \| South China Morning Post](https://feedsoft.ai/events/48873-opinion-why-a-stronger-yuan-is-still-in-china-s-best-interests-south-china.md) | +0.1% | +0.9% |
| USDCNY | 2017-01-05 | [Update \| Offshore yuan borrowing costs spike to 110 pc as PBOC beats back short sellers \| South China Morning Post](https://feedsoft.ai/events/73182-update-offshore-yuan-borrowing-costs-spike-to-110-pc-as-pboc-beats-back-short.md) | +0.1% | -1.0% |

## Sources

- scmp.com: https://www.scmp.com/economy/china-economy/article/3142530/chinas-surging-yuan-allows-beijing-greater-financial

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.