China Yuan Forex: Stronger yuan boosts overseas tourism and imports

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Meanwhile, a stronger yuan gives Chinese consumers more power to buy imported goods and services. Travel agencies and importers are grabbing the chance to increase their sales. Let's take a look.

The stronger yuan makes overseas trips an affordable option for more Chinese travellers during the upcoming Spring Festival. Chinese online travel agency Ctrip estimates that 6.5 million Chinese tourists will travel abroad during the annual seven-day holiday. Alibaba's travel unit Fliggy said sales of its overseas tourism services are on rise.

LI YI, PR MANAGER FLIGGY "Shopping lovers will bring more foreign goods home as a stronger yuan lifts their purchasing power."

For cross-border e-commerce operators, a stronger yuan means less costs in inputs. And that will translate to lower prices offered to customers.

LI YE, MANAGER DONGJIANG DIRECT SALES CENTER OF IMPORTED GOODS "A stronger yuan benefits us. It allows us to choose from a wider range of products and purchase more."

Economists say solid fundamentals in the Chinese economy support the yuan's rally.

SUN LIJIAN, DIRECTOR FINANCIAL RESEARCH CENTER, FUDAN UNIVERSITY "The central bank is implementing a prudent monetary policy. It also is strengthening financial supervision. Borrowing is more expensive. That contributes to a firmer yuan." CGTN.