In China, the stateowned and state holding enterprises only 5% of the total on the total number of enterprises, but stateowned enterprises gross industrial output value in the gross national product (GNP) is still as high as about 50% of the total (2012).In
policy is to preserve the value of the domestic currency, maintain favorable external reserve and ensure the realization of price stability in the domestic economy. (Sanni, 2006). Exchange rate policy in Nigeria has gone through many changes spanning between two major regimes. These are the fixed and flexible exchange rate systems. The fixed exchange rate system was adopted in 1960-1986, while the flexible exchange rate system remains in use from 1986 till date having undergone series of modifications