# China Allows for Stronger Yuan as Xi Turns Focus to Home

> Beijing is allowing faster gains in the yuan, with the currency up nearly 5% since its May low. The move aims to cheapen imports and support weak consumer spending.

- Date: 2020-10-01 · published 2020-10-01T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/51317-china-allows-for-stronger-yuan-as-xi-turns-focus-to-home
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A deliberately stronger yuan lowers the cost of imported feed inputs for China, which may encourage purchases of US and Brazilian commodities.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2026-02-01 | [China Sets Yuan Fixing Stronger Than 7 for First Time Since 2023](https://feedsoft.ai/events/21278-china-sets-yuan-fixing-stronger-than-7-for-first-time-since-2023.md) | -0.2% | -1.0% |
| USDCNY | 2024-09-25 | [China’s march to strong yuan is long and perilous](https://feedsoft.ai/events/28557-china-s-march-to-strong-yuan-is-long-and-perilous.md) | -0.2% | +1.3% |
| USDCNY | 2024-03-28 | [China sets yuan at much stronger fixing than markets expected](https://feedsoft.ai/events/31439-china-sets-yuan-at-much-stronger-fixing-than-markets-expected.md) | +0.1% | +0.3% |
| USDCNY | 2018-08-27 | [China sets yuan fix stronger than expected, revives 'X' factor By Reuters](https://feedsoft.ai/events/63742-china-sets-yuan-fix-stronger-than-expected-revives-x-factor-by-reuters.md) | +0.4% | +0.8% |
| USDCNY | 2017-07-30 | [China's yuan firms on stronger fixing, set for the 3rd winning month - The Business Times](https://feedsoft.ai/events/70191-china-s-yuan-firms-on-stronger-fixing-set-for-the-3rd-winning-month-the.md) | -0.1% | -1.3% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2020-09-03/china-allows-stronger-yuan-as-president-xi-turns-focus-to-home

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