China abandoned a fixed currency peg with the US dollar in 2005 for a managed float and since then the renminbi has appreciated by about 20 per cent against the dollar.

• 2005年，中国放弃了人民币汇率盯住美元的政策，转而采用管理下的浮动汇率制度。自那以来，人民币兑美元汇率上升了大约20%25。