Reforming the Currency Exchange System
(4,391 words)

I. Introduction

The People's Bank of China made the following announcement on July 21, 2005: “Beginning today China will adopt a managed float exchange rate system. That is, currency value will depend on supply and demand of a basket of currencies being exchanged in the …

Cite this page
Li, Yang and Yu, Weibin, “Reforming the Currency Exchange System”, in: Chinese Research Perspectives Online, Edited by: International Advisory Board Chinese Research Perspectives Online. Consulted online on 28 April 2017 <>

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