Since China reformed its exchange-rate regime in July 2005, the renminbi has risen 32% relative to the dollar and about 30% in inflation-adjusted terms against a broad basket of currencies. These are hardly trivial amounts, and more renminbi appreciation can be expected in the years to come.
货币操纵。自从中国在2005年7月实施汇率调控机制改革以来，人民币兑美国升值了32%，并在去除通胀因素后对一揽子货币升值了约30%。这并不是一个微不足道的数目，而且预计未来数年人民币汇率还将继续上升。