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The State Administration of Foreign Exchange (SAFE) of the People's Republic of China is an administrative agency under the State Council tasked with drafting rules and regulations governing foreign exchange market activities, and managing the state foreign-exchange reserves, which at the end of December 2016 stood at $3.01 trillion for the People's Bank of China.
The State Council of the People's Republic of China, also known as the Central People's Government, is the chief administrative authority and the national cabinet of China. It is constitutionally the highest administrative organ of the country and the executive organ of the National People's Congress, the highest organ of state power.
The U.S. Department of State, in its U.S. Relations With Taiwan fact sheet, states " [T]he United States and Taiwan enjoy a robust unofficial relationship. The 1979 U.S.–P.R.C. Joint Communiqué switched diplomatic recognition from Taipei to Beijing. In the Joint Communiqué, the United States recognized the Government of the People's ...
t. e. The history of the People's Republic of China details the history of mainland China since 1 October 1949, when CCP chairman Mao Zedong proclaimed the People's Republic of China (PRC) from atop Tiananmen, after a near complete victory (1949) by the Chinese Communist Party (CCP) in the Chinese Civil War. The PRC is the most recent political ...
The Republic of China (ROC) was a charter member of the United Nations and one of five permanent members of the Security Council until 1971. The ROC joined the United Nations as a founding member on 24 October 1945. The "Big Four" victors of World War II ( Nationalist China, the Soviet Union, the United Kingdom, and the United States) [41] were ...
Taiwan Province, PRC refers to a notional administrative division claimed by the People's Republic of China. The PRC constitution asserts Taiwan as part of its territories [2] although the PRC has never controlled Taiwan since the PRC's establishment in 1949. [3] The territory of the claimed province, including the entire island of Taiwan, is ...
During the 1970s, it was revalued until it reached ¥1.50 per dollar in 1980. When China's economy gradually opened in the 1980s, the renminbi was devalued in order to improve the competitiveness of Chinese exports. Thus, the official exchange rate increased from ¥1.50 in 1980 to ¥8.62 by 1994 (the lowest rate on record).
The controversy surrounding the political status of Taiwan or the Taiwan issue is an ongoing dispute on the political status of Taiwan, currently controlled by the Republic of China (ROC). This dispute arose in the mid-twentieth century. Originally based in Mainland China before and during World War II, the ROC government retreated to Taiwan in ...