According to Jin10, China's central bank said the renminbi exchange rate policy stance is that exchange rates and current accounts have no simple linear relationship. Exchange rates are a pricing relationship between currencies and are influenced by multiple factors, including economic growth, monetary policy, financial markets, geopolitics, and sudden risk events. It said exchange-rate changes should be analyzed not only through goods trade, but also services trade; not only through the current account, but also the financial account; and not only through economic fundamentals, but also expectations.