China will abandon it's dollar-pegged exchange rate regime and establish a free floating, market-determined exchange rate value for the Yuan (also known as the "renminbi") by January 1st 2008 (1/1/08)
In order for this claim to be judged True, China must cease the Yuan-Dollar peg by January 1st 2008 (1/1/08) and the Yuan's market value must be established via a flexible exchange rate system.
If China keeps its currency fixed against the dollar, and other countries (including those in Europe and Latin America) and China is not allow it's currency to float, then this claim will be judged False.
Likewise, if the Chinese establish another pegged currency pair verses a majorly traded currency, such as the Euro or the Pound, this claim will be judged False. Moreover, the claim will be judged False if China continue to fix its currency against the dollar, but allows the currency to move a bit up or down, trading in what's known as a band, or set the Yuan's value against a basket of currencies (the dollar, the yen, the euro).