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Yuan Peg to Dollar Scrapped

The People's Bank of China announces on July 21, 2005 that starting from that day, China will reform the exchange rate regime by moving into a managed floating exchange rate regime based on market supply and demand with reference to a basket of currencies. RMB will no longer be pegged to the US dollar and the RMB exchange rate regime will be improved with greater flexibility.

·	Yuan Stability Faces Pressure
·	Snow Praises RMB Exchange Rate Reform
·	RMB Exchange Rate Hits New High Since Its Reform
·	Foreign Exchange Rate Reform Beneficial to the World
·	Renminbi Revaluation Not Likely Due to New Forex System
·	Basket of Currencies Revealed
·	Exchange Rate Range Adjustment at 'Proper Time'
·	Central Bank Denies Further Yuan Appreciation
·	RMB Appreciation Positive for Economy, Trade
·	Stock Market Rises on First Day After Yuan Revaluation
·	Revaluation of Yuan Welcomed
·	RMB Won't Float by Big Margin
·	Yuan Peg to Dollar Scrapped
·	Officials React to US Pressure on Yuan

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