Title: What is the Basis of China's Exchange Rate?

The exchange rate of any country is the value of its currency in relation to another currency. For China, the exchange rate is often quoted in relation to the US dollar. The Chinese government manages the value of its currency, known as the yuan (CNY), to maintain economic stability and growth. In this article, we will explore the basis of China's exchange rate and how it is determined.

In the English context, it is said that China's exchange rate is based on a managed float system. This means that the Chinese government intervenes in the foreign exchange market to control the value of the yuan. The government uses various tools, including interest rates and foreign exchange regulations, to manage the exchange rate. It also takes into account economic indicators, such as inflation, growth, and trade balances, to determine the appropriate level for the yuan.

在中文语境中，中国实行的是以市场供求为基础的、单一的、有管理的浮动汇率制度。这意味着中国的外汇市场是一个以市场供求为基础的市场，政府通过各种手段对市场进行干预和管理，以保持汇率的稳定。政府会根据经济形势和国内外环境的变化，适时调整汇率政策，以促进经济的稳定和发展。

总体来说，“中国汇率以什么为基础”这个关键词涉及到中国汇率制度的理论基础和实践操作。无论是英文还是中文，我们都应该关注中国汇率制度的基本原则、市场机制和管理方式，以便更好地理解汇率政策的制定和实施。对于投资者和经济学者来说，了解中国汇率制度的背景和特点是非常重要的，这有助于他们更好地分析和预测经济形势。