The current exchange rate system is a managed floating exchange rate system based on market supply and demand that has developed since 1994.

现行的汇率机制是一个1994年以来建立在市场供求基础上有管理的浮动汇率体制。

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A currency exchange rate that is allowed to be set completely by market forces, differ from the managed floating exchange rate system regulated by the government or pegged exchange rate system.

指完全由自由市场供求因素决定的货币汇率，与受官方管制的有管理的浮动汇率制度或爬行钉住汇率制不同。

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Article27the managed floating exchange rate system based on market supply and demand is adopted for renminbi exchange rate.

第二十七条人民币汇率实行以市场供求为基础的、有管理的浮动汇率制度。

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