As of the end of February, China's foreign exchange reserves is 300,512,400,000,000 US dollars which is the first time that China's foreign exchange reserves shows positive growth after June last year. Since then, market analysts believe that the February exchange rate is almost entirely determined by the market. But is the reality really so optimistic? Does the small positive growth of a month really indicate a change in the trend of shrinking of the reserves? Anbound's researchers believe that the devaluation of the renminbi is likely to occur again, taking into account factors such as economic growth fundamentals, financial risk, and international political conditions. From our own research, the potential capital outflows of the market are still very strong. In the future, the Chinese government still needs to adopt monetary, finance, foreign exchange and other related policies to ensure the stability of the foreign exchange market. There should not be premature optimism.