The appreciation of RMB is relative to other currencies, that is, the purchasing power of RMB increases.
For example, in the international market, where the increased purchasing power of the renminbi can only be seen.
In the past, one yuan could only buy one product, but when the yuan appreciated, it could buy more goods.
The appreciation or depreciation of the renminbi is directly reflected in the exchange rate.
Internal driving force and external pressure from China’s economic system.
Internal factors include balance of payments, foreign exchange reserves, price level and inflation, economic growth and interest rates.
2012 has been a year of ups and downs.
As of Oct. 15, 2012, the yuan hit its highest level against the dollar since 1993.