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The article presents the top 10 events in China in 2010. The gross domestic product (GDP) increased by 10.6% in the first three quarters of the year, with China's GDP surpassing Japan's in the second and third quarters. Policymakers strengthened macroeconomic controls due to increasing prices across the country. The People's Bank of China decided to proceed with the yuan exchange rate reform, which will be implemented on June 19.

The article discusses two-way fluctuation in China's Yuan currency. The Yuan's exchange rate has depreciated more than 6 percent since the new exchange rate reform in 2015. Other topics include announcement by the People's Bank of China (PBOC) to improve the quotation of the central parity of the yuan against the U.S. dollar, the market expectation of the yuan's exchange rate, and the exchange rate movements of major currencies.

The article discusses China's move to widen the yuan-dollar trading band. The Chinese government is committed to advance exchange rate reform and is driving the internationalization of the yuan. The central bank, the People's Bank of China, has widened the trading band for the yuan against the U.S. dollar from 0.5 percent to 1 percent on April 16, 2012. The move aims to promote yuan's exchange, as well as improve its two-way fluctuation flexibility.

The article discusses the new measures outlined by the People's Bank of China in its first document of 2011, which concern a pilot program to allow non-financial enterprises to use the yuan, also called the renminbi, in settlement while making investments in overseas markets. The new measures mean that foreign entrepreneurs can get funding denominated in the currency of China. Banking professor Guo Tianyong says that allowing yuan settlement in outbound direct investments will help avoid settlement risks brought about by the third-party currency.

The article offers information on the 2008 second-quarter monetary report issued by People's Bank of China. According to the central bank, the country's financial market was heading smoothly toward the macroeconomic control direction it had set and it had improved the flexibility of the renminbi exchange rate policy by allowing the currency fluctuate in accordance with major world currencies. The report also cites that the government would keep the stability and continuity of its current monetary policy.