Reuters reported on November 12 that Flavio Figueiredo, global head of foreign exchange at Citigroup, and Marc Luet, head of banking for Japan, North Asia, and Australia, spoke with reporters during Citigroup’s annual China conference held in Shanghai. Figueiredo stated that Citigroup’s role is to assist Chinese clients in expanding overseas operations, including managing foreign exchange risk and invoicing international clients in renminbi. Luet noted that business related to China has experienced double-digit growth for several consecutive years, ranking among the fastest-growing segments within Citigroup’s Asian operations, with active developments in electric vehicles, consumer electronics, digital industries, and supply chains tied to energy transition. Figueiredo forecasted that the renminbi could strengthen to 6.5 per U.S. dollar by mid-2027, representing a potential appreciation of about 3% from Wednesday’s level of 6.67.
Original: toutiao.com/article/1881659114591244/
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