appreciation of the RMB

基本解释

There has been little or no real appreciation of the RMB and there may actually have been some depreciation.
人民币升值很小，或者说实质上没有升值，可能还有一些贬值。
With the BOP account moving closer to equilibrium, the basis for large-scale appreciation of the RMB exchange rate does not exist.
因为国际收支平衡表趋于平衡，人民币汇率大幅升值的理论基础并不存在。
Any appreciation of the RMB against the U.S. dollar during the investment holding period of these offshore funds would raise their IRRs.
这样，在投资过程中，任何相对于美元的人民币升值都会提高这些离岸基金的内部收益率。

"The currency reform is to increase the flexibility of the RMB, that doesn't mean a dramatic appreciation."

Nonetheless, the available evidence suggests the RMB remains significantly undervalued, and further appreciation of the RMB against the dollar and other major currencies is warranted.
FORBES: U.S. Treasury Sticks It To The China Haters
Could you elaborate a little bit on the currency issue, such as the Vice President is going to talk to China on the value of the dollar and also the appreciation of the RMB?
WHITEHOUSE: Via Telephone
The first assumption is that China is in a position to deal with the negative effects of an appreciating RMB, as Japan did with the yen appreciation in the 1980s—by accelerating its transformation from an imitator to an innovator.
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