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U has fallen below 7, while the USD to offshore RMB is still at 7.06, which is equivalent to a negative premium of one point. It was normal this morning. USDC has also fallen below 7, so it shouldn't be a USDT blowup. Not sure what's going on.
Recently, the appreciation of the RMB has multiple reasons. One is that it's the end of the year and many companies need to convert their foreign currency earnings into RMB. The main factors are the weakening of the US dollar, the end of QT, expectations of rate cuts rising, and the yen's interest rate hike—all contributing to the US dollar's weakness.