linguistic:voice_change
Purchasing power parity

Scholarly studies suggest that the yuan is undervalued on the basis of purchasing power parity analysis. One 2011 study suggests a 37.5% undervaluation.

The People's Bank of China lowered the renminbi's daily fix to the US dollar by 1.9 per cent to ¥6.2298 on 11 August 2015. The People's Bank of China again lowered the renminbi's daily fix to the US dollar from ¥6.620 to ¥6.6375 after Brexit on 27 June 2016. It had not been this low since December 2010.