What is the foreign exchange management system in China?

It is a management system adopted by a country for the receipt, payment, settlement, trading and use of foreign exchange.

The reform of foreign exchange system introduced in June 1 994+1October1is a further improvement of the previous reform: the foreign exchange rate of RMB and the exchange rate of foreign exchange swap market are combined, and a single and managed floating exchange rate system is implemented; Implement the foreign exchange settlement system and foreign exchange sale system of designated foreign exchange banks.