transformtheforeignexchangeallocationmechanismfromonethatwasdictatedbygovernmentplanningtoonethatwasbasedonmarketprinciples,andtoestablishamarket-orientedregulatoryframework.Attheinitialstageofreform,Chinesepolicymakershadnoclearreformmodelinmind.Thereformmeasurestakeninhadmainlyfocusedondecentralizingsomeoftheforeigntrademanagementpowerandallowingmoreforeigntradecorporationstobeestablished.Anaturalconsequenceofdecentralizationwasthelossofmonopolypowerintheforeigntradesector.Attheendof,aboutnewforeigntradecorporationswereestablished.Bythemid-s,thenumberexceeded,.In,thetraditionalforeigntradecorporationsaccountedfor.ofexportsand.ofimports.By,theirsharesdeclinedtoand.,respectively.Alongwiththestructuralreforminthetradesector,theauthoritiesundertookmeasurestoreformtheforeignexchangesystem.InMarch,theStateAdministrationofForeignExchange(SAFE)wasestablishedtoassumethefu深圳经济特区,有一个更灵活方式对价格。