Column of the Editor-in-Chief of Arts/New waves (Bkopleader) This mechanism has improved in comparison with the previous yuan renminbi exchange rate, primarily as a result of a series of benefits resulting from the greater tolerance of the yuan renminbi exchange rate. If this mechanism is to be sustained, the key lies in two main points: (1) the bandwidth is as wide as possible, leaving sufficient space for spontaneous adjustment of foreign exchange markets, and the counter-cyclical factor is...