Only by totally abandoning the current growth model of relying on credit investment and the real estate industry, can China's economy get out of the dilemma.
China's current economic situation is that the downward pressure of GDP growth has eased a bit and the economy has rebounded somewhat while the domestic residential demand is not so satisfying.
From a medium- and-long-term perspective, with China’s economic restructuring improving and China’s giant economic status established, RMB appreciation is still more likely than depreciation.
With the imminent rate hike to be announced by the U.S. Federal Reserve, the depreciation of the Chinese yuan in the second half of the year is considered virtually certain.
The Chinese government's strategy in developing the equity market was not changed. The surging trend in the Chinese stock market will continue in the second half of the year.