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Part Three The Chinese Foreign Exchange System I. Overview 一、概述The foreign exchange control has been in place since the establishment of the Peoples Republic of China. 自新中国成立起我国就实行外汇管制。Before 1979, due to severe lack of foreign exchange resources, the foreign exchange control was strictly enforced. 1979年以前，由于外汇资源严重短缺，我国的外汇管制非常严格。Since the introduction of the economic reform and the policy of opening to the outside world, 自从实行改革开放政策以后，Chinas highly centralized foreign exchange control system has greatly changed, 我国高度集中的外汇体制发生了很大的变化；resulting in less state intervention and greater role of m