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短期内,人民币汇率“小步快走”形成的升值预期将吸引国内外大量投机资金进入股市,使 A 股市场呈现利好。中期内,人民币升值的资金成本效应、价格效应和资产负债定价效应将改变不同行业不同企业的经营业绩,从而使各股表现冷暖不均。那么长期来看,人民币升值到位后,将会产生怎样的影响
In the short term, the expected appreciation of the RMB exchange rate “Small Steps” will attract a large amount of domestic and foreign speculative funds into the stock market, making the A-share market favorable. In the medium term, the capital cost effect, the price effect and the asset-liability pricing effect of the RMB appreciation will change the operating performance of different enterprises in different industries so that the performance of each unit will be uneven. In the long run, how will the impact of renminbi appreciation come into place?