Exchange Rates of Renminbi and Foreign Exchange Swap Centers
Article 32 A unitary and well-managed floating exchange rate system based on market supply and demand will be implemented for the exchange rates of Renminbi.
The People's Bank of China shall publish the exchange rates of Renminbi against major foreign currencies according to the prices fixed at interbank foreign exchange swap centers.
Article 33 Transactions at foreign exchange swap centers shall be governed by the principle of being open, fair, impartial, and honest.
Article 34 The currencies and forms of transaction at foreign exchange swap centers shall be stipulated and readjusted by foreign exchange administrations under the State Council.
Article 35 Banks designated to handle foreign exchanges and other financial institutions designated to handle foreign exchange businesses shall be the dealers at inter-bank foreign exchange swap centers.
Banks designated to handle foreign exchanges and other financial institutions designated to handle foreign exchange businesses shall fix the prices of the foreign exchanges traded between their clients and handle foreign exchange transactions according to the exchange rates published by the People's Bank of China and the floating range specified by this bank.
Article 36 The foreign exchange administrations under the State Council shall exercise supervision and management of foreign exchange swap centres across the whole country in accordance with law.