On Wednesday, the Chinese yuan showed moderate growth, recovering from the area of six-week lows. The current quote of the USD/CNY pair is 6.9169. The currency was supported by news about Beijing's plans to support exporters amid weakening global demand. Yesterday, the Chinese authorities published a plan to support the export of cars and simplify the process of obtaining visas for foreign businessmen. At the same time, it is expected that it will still be difficult for Chinese exporters amid expectations of a recession in the United States, where the consumer confidence indicator in April fell to the lowest level in nine months (101.3 points). Moreover, experts doubt that external demand for Chinese goods will recover in the near future, despite the support measures, and this will also limit the growth of the yuan. The upcoming dividend payments by Chinese companies listed on international exchanges may put additional pressure on the Chinese currency. Between April and August, local companies traded on the Hong Kong Stock Exchange will have to pay dividends in the amount of about $56 billion.
