From 1979 to 1984: RMB experienced a transition from single exchange rate to dual exchange rate and then to single exchange rate. 1985 rpm 1993: The official quotation of RMB against foreign currency coexists with the foreign exchange swap price, returning to the dual exchange rate. 1994: China implements a single and managed floating exchange rate system based on market supply and demand. We will implement the system of bank settlement and sale of foreign exchange, abolish foreign exchange retention and settlement, establish an inter-bank foreign exchange trading market, and improve the exchange rate formation mechanism. In 2005, China established and improved a single and managed floating exchange rate system based on market supply and demand and adjusted with reference to a basket of currencies. The RMB exchange rate shall be formulated and promulgated by the State Administration of Foreign Exchange before 1994. After the RMB exchange rate 1994+ 1 is merged, a single and managed floating exchange rate system based on market supply and demand will be implemented. The People's Bank of China announced the exchange rate of RMB against the US dollar and other major currencies according to the price formed in the inter-bank foreign exchange market the day before, and the bank took this as the basis.

2010 April 13, the 4th Hu Ao congress was held in Washington, USA. The tough stance of the President and Hu Jintao on the RMB exchange rate exceeded the expectations of the international market. He stressed that China is committed to continuing the reform of the RMB exchange rate, but it will only do so according to its own economic development needs and will not yield to external pressure.