If we use the rise in labor costs as the DE facto inflation index - instead of the CPI - to compute the real effective exchange rate, the yuan has appreciated 50 percent already since 2005.

代替消费者价格指数，如果我们使用劳动力成本的涨幅作为实际通胀指数，来计算实际有效汇率，那么自2005年起人民币已经升值了50%。

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The markets' optimism follows the China central bank's weekend announcement it was unshackling the yuan from its DE facto 23-month-old peg.

周末，中国中央银行宣布解除人民币对美元实际上长达23个月的挂钩之后，市场反应非常乐观。

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The flow of De and the circulation of Qi make everything vital. " From this passage, we can see, "De" has the nature of Zhi Yuan, which is like that of Qi but not all the same.

从这一段话中，我们就可以看出，“德”具有质元性，同“气”的质性相似，但是并不完全相同。

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Since 2005, when China started de-pegging gradually from the dollar, the yuan has appreciated around 25% in nominal terms and about 50% in real terms relative to the dollar, according to a report by The Economist.

FORBES: For China's Yuan, China Knows Best