The long and medium term exchange rate target zones confirmed the weakening of CNY against USD, EUR, CHF, JPY and to confirm the capital out-flowing from the China economy in long-term.
The capital out-flowing has been hammering the economy in long term as confirmed by the long term and medium term GDP band. Although the inflation band seems to be flat in long term, however under pressure in medium term.
The pressure on the economy however will be limited and liquidity dry up less likely to experience. And at such, economic indicators remains manageable in long run.