The renminbi exchange rate is currently in the calmest period since its devaluation of 20 months ago. In the context of China's tightening capital control and the weaker dollar, the renminbi has fluctuated between 1.1% since February and has not changed by more than 0.2% in the past week. But as of the four trading days in April 19, the Chinese stock market Shanghai Composite Index fell by 3.2%. Foreign institutions said that China's stock market decline may impact the market confidence; the renminbi exchange rate's calm situation may change while stock market investors may turn to overseas assets. In fact, there is always the expectation of the depreciation of the renminbi, but it is worth noting that the recent decline in the stock market may cause pressures on the devaluation of renminbi. With the two deepened mutual influences, coupled with a stronger dollar, this could form a vicious cycle. This possibility should be prevented; this is also the reason why the issue of scale is important in the implementation of the policy on the financial supervision.