Starting from April 1, 1999, the exchange rate under this Convertibility Undertaking has been moving from 7.75 to 7.80 by 1 pip (i.e. $0.0001) each calendar day.

• 由一九九九年四月一日起，兑换保证适用汇率由7.；75的水平，每个公历日调整一点子(即0