Which industries have a strong correlation between stock prices and the RMB exchange rate?

The article analyzes the correlation between stock prices in various industries and the exchange rate of the US dollar to the Chinese yuan since 2016, pointing out the impact of yuan appreciation on stock price increases. The main beneficiary industries include those with high dependence on imported raw materials, industries with high dollar debt costs, and industries driven by the increase in yuan purchasing power that boosts domestic demand. Specific industries include coking, steel, chemicals, energy metals, papermaking, aviation and airports, agricultural product processing, construction and real estate chain, logistics, optical optoelectronics, cross-border e-commerce, and hotel and catering. Investment should be approached with caution; this article does not constitute investment advice