That is the exchange rate control statute.

外汇管理条例是这么规定的。

youdao

In a world of mobile capital, an economy cannot both manage its exchange rate and control domestic liquidity.

在这个资本自由流动的世界，一国无法同时掌控汇率和国内流动资金。

youdao

His choice was that China go to fiat money, control the money supply tightly, and let the exchange rate float.

他的选择，是中国采用美国的无锚货币制，严谨地控制货币量，让汇率自由浮动。

youdao

Even so, China could still introduce some flexibility into its exchange rate, and so regain control of monetary policy, by adopting a wider band or by pegging to a currency basket rather than just to the dollar.

ECONOMIST: It is time for China to unshackle the price of money

The single currency has deprived its members of any independent control over monetary policy or the exchange rate, so the burden of any necessary response to a recession falls more on fiscal policy.

ECONOMIST: Europe's single-currency rules

To regain control over its monetary policy, China needs a more flexible exchange rate.

ECONOMIST: Economics focus: A stitch in time saves nine | The