Deng Xiaoping, returning from his retirement as the General Secretary of the CCP, travels to a number of factories in southern China.
The renminbi is pegged to the U.S. dollar.
The renminbi appreciates by 2.1 percent relative to the U.S. dollar.
The 2008 market crash shakes the Chinese government's confidence, prompting a quick and cautious return to the currency peg.
As the global economy recovers, driven by the growth of developing economies, China allows the renminbi to rise relative to the dollar.
Fearing the economic fallout of a potential collapse of the eurozone, Chinese policymakers re-peg the renminbi in order to safeguard the domestic economy.
Renminbi rise resumes as Euro crisis appears to have been averted.
The new General Secretary of the Chinese Communist Party, Xi Jinping, prioritizes currency reform and predicts full renminbi liberalization by 2020 in his list of priorities.
Chinese ownership of U.S. foreign exchange assets reaches $4 trilllion dollars.
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