When I first came to China, back in 1998, the official exchange rate between the Netherlands Guilder (NLG) (the Euro came later) and the CNY was something like 1:4. The exchange rate with the USD was around 1:8 and at that time the exchange rate between the NLG and the USD was 1:2.
Since those days the markets have seen lots of fluctuations and currently it seems an era has started where the EUR and the USD keep losing ground against the CNY.
It actually is getting so bad that I have decided that from now on I will no longer quote my prices in EUR or USD, but instead in CNY. I have done this to protect myself from dropping rates of currencies, because after all I am living in Beijing, China and we pay here with CNY.
Thanks for your understanding and please use the comments section to let me know any questions you might have.