Goldman Sachs research indicates the onshore yuan is more than 20% undervalued against its fair value, identifying an equilibrium USD/CNY rate near 6.50. The projection hinges on a narrowing yield gap, stronger capital inflows, and renewed foreign investor demand for Chinese assets over the next 6–12 months.

Goldman has joined a consortium of banks tapped by Ninja to advise on a potential $1 billion initial public offering in Riyadh. The mandate underscores Goldman's growing presence in Middle Eastern equity capital markets and could generate substantial advisory and underwriting fees if the transaction proceeds.