Document No.94 No.05 of the Finance Committee of the Ministry of Finance, Provisions on Accounting Treatment of Foreign Currency Business of Enterprises after the Reform of Foreign Exchange Management System, recognizes the bookkeeping exchange rate as the market exchange rate. The expression of market exchange rate can be understood as the foreign currency transaction price of any financial institution, and there is also a price difference between cash and cash bought or sold by financial institutions.

Therefore, the exchange rate of foreign currency converted into RMB should be determined as the average of spot foreign exchange buying price and selling price, that is, the middle price. Therefore, the document of State Administration of Foreign Exchange 144 "Opinions on Exchange Rate Conversion among Joint Ventures after Exchange Rate Consolidation" clearly stipulates that the middle price of spot exchange announced by Bank of China is the only standard for foreign exchange conversion and bookkeeping.