It has almost come to an end for the RMB's exchange rate to undergo a downward adjustment which started at the beginning of this year. ANBOUND research team insists that Chinese economic policies might be strengthened in the latter half of this year and market has started to turn to an optimistic view towards Chinese economy, which have together led to an expected appreciation of RMB’s exchange rate by the market. According to current situation, only if China’s central bank reduces its intervention and allows market to become the dominator of RMB’s exchange rate, will RMB return to the track of appreciation, though with a big fluctuation margin.