The yuan is not pegged to the dollar in the traditional sense of the term. China is actually fairly opaque about how they set their rates but claim it’s against

The yuan is not pegged to the dollar in the traditional sense of the term. China is actually fairly opaque about how they set their rates but claim it’s against a basket of currencies. Here is a good discussion on it: https://www.cfr.org/blog/so-china-pegging-dollar-or-basket https://www.cfr.org/blog/so-china-pegging-dollar-or-basket