单选题 Directions: In this section you will hear three short passages. At the end of each passage, you will hear some questions. The passages and the questions will be spoken only once. After you hear a question, you must choose the best answer from the four choices marked A, B, C and D. Then mark the corresponding letter on the ANSWER SHEET with a single line through the center. {{B}}Passage One{{/B}}

【正确答案】 C

【答案解析】[听力原文]21-23 The Chinese currency is the Remninbi. China has maintained a unified managed floating exchange rate since January 1994. The exchange rate of the Renminbi is determined by the inter bank foreign exchange market. The People's Bank of China armounces a reference rate for the Renmiabi against the U.S. dollar, the Hong Kong dollar, and the Japanese yen based on the weighted average price, of foreign exchange transactions during the previous day's trading. Daily movement of the exchange rate of the Renminbi against the U.S. dollar in inter - bank foreign exchange market is limited to 0.3 % on either side of the reference rate as announced by the PBC. The buying and selling rates of the Renmiabi against the Hong Kong dollar and the Japanese yen may not deviate more than 1% on either side of the reference rate. In the case of other currencies, the deviation may not exceed 0.5 % on either side of their respective rates. 21. When did China begin to maintain a unified managed floating exchange rate?