Zhai Shanying: The ultimate inside story of the RMB exchange rate against the US dollar

More than a dozen provinces, regions, and municipalities in China have been struck by major natural disasters such as torrential rains, floods, and mudslides. At the same time, multiple man-made disasters have erupted concurrently, including a sudden major fire at the Zhengzhou Automotive Business Plaza in Henan, four fatalities from a construction slip in Wuzhai County, Shanxi, and a residential building fire in Luxi County, Hunan.

The website of the Chinese Communist Party's theoretical journal Qiushi published a commentary article titled "Boost Consumption with Greater Vigor," proposing measures such as increasing residents' income, improving the social security system, rescuing the real estate sector, and repairing residents' balance sheets.