On April 10, 2008 (March 5, 2008 in the lunar calendar), the central parity rate of the US dollar against the RMB was quoted at 1: 6.9920 and "broke 7" for the first time. The People's Bank of China authorized the China Foreign Exchange Trading Center to announce that the central parity rate of the US dollar and other trading currencies against the RMB in the inter-bank foreign exchange market on April 10, 2008 was: US dollar to 6.9920 yuan, 1 euro to 11.0715 yuan, 100 yen to 6.8951 yuan, 1 Hong Kong dollar to 0.89788 yuan, and 1 British pound to 13.8116 yuan. Previously, the central parity of the RMB against the US dollar "broke eight" on May 15, 2006, which lasted for a total of twenty-three months. In the past two years, the RMB exchange rate has appreciated by more than 12.5%, but the annual increase from April last year to this year has exceeded 9%, and the trend of accelerated appreciation is obvious. Recently, due to the weakening of the US dollar in the global currency market, the appreciation momentum of the RMB has strengthened slightly. However, analysts said that it is not what the government wants to appreciate the RMB too quickly. At present, management will mainly enhance exchange rate flexibility and maintain the RMB's steady appreciation.