On February 28, central bank of China further weakens Renminbi by requested large scale state-owned banks to purchase huge amount of U.S dollars. This move led to the biggest single-day depreciation of Renminbi since its exchange rate reform in 2005. Some people believe that the Renminbi depreciation under the guidance of the central bank is meant to overcome interest arbitrage. However, ANBOUND research team believes that it is not the main reason for the central bank to adjust RMB exchange rate. Large scale of Renminbi depreciation will affect export companies meanwhile the biggest impact is on Renminbi Wealth. The impact on Renminbi asset holders are varies across the board.