In the past few days, the onshore and offshore prices of the RMB have risen significantly. With the support of US President Xi Jinping's visit to the US, the bank has received the US's statement on the entry of the RMB into the SDR. It is believed that speculative funds have begun to level the short positions of the offshore RMB.

Until now, the difference between the onshore and offshore prices of RMB has almost disappeared, basically meeting the target of exchange rate reform, and I expect that the possibility of further widening the price difference is limited. As the offshore price dominates the onshore price, and the forward offshore price volume is small, it is convenient for human intervention when necessary. With the narrowing of the price difference between the two places, I think that the exchange rate depreciation expectation is weakened, and the rise of domestic US dollar's swap in various periods is also out The main reason is that all countries know that the people's Bank of China has intervened in the FOB price, but they have nothing to say, which is "acquiescence".

Of course, the domestic demand of economic transformation needs to pay attention to the trend of young people. Chinese party culture (01532) will be listed on the main board. Since the company developed B2C e-commerce business in December last year, its monthly average sales volume has increased fourfold, and the gross profit margin of B2C is more than double that of B2B, so it will strengthen the development of e-commerce business in the future.

More than 90% of the company's orders are for export, which is favorable for the recent depreciation of RMB, because the export business is calculated in USD. Orders for the year to the end of July rose 44% from last year. The company's share price is about 9.8-12 times of its 2014 earnings.

For the future development direction, we will cooperate with famous Japanese role-playing enterprises, set up theme restaurants and various role-playing activities, and set up experience halls in Yiwu, Zhejiang Province, to further expand domestic sales.

In fact, Chinese party culture has the concept of cross industry expansion, with reasonable valuation, which is worth noting.