What's the impact of RMB appreciation on China's economy?

With the appreciation of RMB, the money in the pockets of ordinary people will be more valuable. For example, if the RMB appreciates by 1%, the RMB in 1 yuan is equivalent to $132.9673. From a narrow point of view, appreciation is good for the people, but if we consider it from the overall national or economic level, after the appreciation of the renminbi, it will bring uncertainty to the national macro-control, even bring difficulties to employment, and personal income is likely to decrease. For example, after the appreciation of RMB, the cost of direct investment in China will increase, foreign investors will reduce their investment in China, new investment enterprises may stagnate, and the scale of existing enterprises may also shrink, which will of course affect our employment; At the same time, due to the appreciation, foreign tourists will reduce their travel and consumption in China, which will also have an impact on our service industry and tourism industry, and then affect this part of the employed population. The appreciation of RMB will also make a large number of imported goods flood into the domestic market, which will make part of the domestic market share occupied by foreign enterprises. These two aspects will lead to a result, that is, some domestic enterprises need to be readjusted, and many people may lose their jobs. Studies have shown that a 1% appreciation of the exchange rate will reduce the number of employed people nationwide by 3.812 million.