(Consider This) Which of the Following Statements Is Most Accurate

(Consider This) Which of the following statements is most accurate about China's pegging of its currency against the U.S. dollar in the 2000s?

A) China has consistently kept the yuan price of a dollar lower than what the free market equilibrium exchange rate would be.
B) China has consistently kept the yuan price of a dollar higher than what the free market equilibrium exchange rate would be.
C) China has regularly adjusted the peg so as to sometimes set the yuan price of a dollar too high and other times set it too low.
D) China has seen a rapid decline in its reserves of dollars.