As the risks of China's property market keep rising, the market starts to focus on whether the continued high prices will lead to a substantial depreciation of the Renminbi’s exchange rate. Anbound research team believes that the overheated property market is both the cause and the effect of the devaluation of Renminbi; property bubble is also the cause of the recent outflow of large sum of capital and the continuous depreciation of Renminbi. In the future, if the property bubble is getting bigger, the pressure on Renminbi will be bigger as well, and the severe devaluation of Renminbi could cause the economy to collapse. No matter from which angle, the overheated property market needs to get cooldown, as this is related to the economic stability of China.