Now let's look back at how the RMB's exchange rate has reformed over the past five years.
July 21, 2005
China makes one-off revaluation of the yuan by 2.1% from 8.27 to 8.11 against USD. China abandons a decade-old peg against USD and shifts to a managed floating exchange rate with reference to a basket of currencies.
May 18, 2007
China widens the yuan's daily trading limit against USD from 0.3% to 0.5%.
April 10, 2008
1 USD buys less than 7 yuan for the first time.
June 19, 2010
China announces further RMB exchange rate reform, to improve flexibility.