Renminbi 人民币 (Chinese)
ISO 4217 Code	CNY
Official user(s)	People's Republic of China (mainland only)
Unofficial user(s)	Hong Kong  Macau
Inflation	8. ISO 4217 is the International standard describing three-letter codes (also known as the currency code) to define the names of currencies established Talk People's Republic of China) PEOPLE'S REPUBLIC OF CHINA ARTICLE GUIDELINES Mainland China, Continental China, the Chinese mainland or simply the mainland, is a geopolitical term synonymous with the area that is under the jurisdiction Hong Kong ( officially the Hong Kong Special Administrative Region, is a territory located on China 's south coast on the Pearl River Delta, and borders For a topic outline on this subject see List of basic Macau topics. In economics inflation or price inflation is a rise in the general level of prices of goods and services over a period of time 7%
Source	National Bureau of Statistics of China, Feb 2008.
Pegged with	A basket of currencies
Subunit
1/10	jiao (角)
1/100	fen (分)
Symbol	¥
Nickname	kuài (块)
jiao (角)	máo (毛)
Plural	The language(s) of this currency does not have a morphological plural distinction. A fixed exchange rate, sometimes called a pegged exchange rate, is a type of Exchange rate regime wherein a Currency 's value is matched to the value of A currency sign is a graphic symbol often used as a shorthand for a Currency 's name ¥￥ Plural is a Grammatical number, typically referring to more than one of the Referent in the real world
Coins
Freq. used	1, 5 jiao, ¥1
Rarely used	1, 2, 5 fen
Banknotes
Freq. used	1, 5 jiao, ¥1, ¥5, ¥10, ¥20, ¥50, ¥100
Rarely used	2 jiao, ¥2
Central bank	People's Bank of China
Website	www.pbc.gov.cn

The renminbi (simplified Chinese: 人民币; traditional Chinese: 人民幣; pinyin: rénmínbì; literally "people's currency") is the currency of the mainland of the People's Republic of China (PRC). A central bank, reserve bank, or monetary authority is the entity responsible for the Monetary policy of a country or of a group of member states The People's Bank of China ( PBC or PBOC) ( is the Central bank of the People's Republic of China (not to be confused with the Bank Pinyin, more formally Hanyu pinyin, is the most common Standard Mandarin Romanization system in use A currency is a unit of exchange, facilitating the transfer of Goods and/or services It is one form of Money, where money is Mainland China, Continental China, the Chinese mainland or simply the mainland, is a geopolitical term synonymous with the area that is under the jurisdiction Talk People's Republic of China) PEOPLE'S REPUBLIC OF CHINA ARTICLE GUIDELINES ^[1], whose principal unit is the yuan (simplified Chinese: 元 or 圆; traditional Chinese: 圓; pinyin: yuán; Wade-Giles: yüan), subdivided into 10 jiao (角), each of 10 fen (分). Pinyin, more formally Hanyu pinyin, is the most common Standard Mandarin Romanization system in use Wade-Giles (ˌweɪdˈʤaɪlz) sometimes abbreviated Wade, is a Romanization system (phonetic notation and Transcription) for the Mandarin

The renminbi is issued by the People's Bank of China, the monetary authority of the PRC. The People's Bank of China ( PBC or PBOC) ( is the Central bank of the People's Republic of China (not to be confused with the Bank ^[2] The ISO 4217 abbreviation is CNY, although also commonly abbreviated as "RMB". ISO 4217 is the International standard describing three-letter codes (also known as the currency code) to define the names of currencies established The Latinised symbol is ¥. ¥￥

Etymology

See also: Chinese yuan

A variety of currencies circulated in China during the Republic of China era, most of which were denominated in the unit "yuan". REPUBLIC OF CHINA ARTICLE GUIDELINES Each was distinguished by a currency name, such as the fabi ("legal tender"), the "gold yuan", and the "silver yuan". The word yuan in Chinese literally means round, after the shape of the coins. The Korean and Japanese currency units, won and yen respectively, are cognates of the yuan and have the same Chinese character (hanja/kanji) representation, but in different forms (respectively, 원/圓 and 円/圓), also meaning round in Korean and Japanese. This article is mainly about the spoken Korean language See Hangul for details on the native Korean writing system is a language spoken by over 130 million people in Japan and in Japanese emigrant communities Cognates in Linguistics are words that have a common origin They may occur within a language such as shirt and skirt as two English words descended from A Chinese character, also known as a Han character ( is a Logogram used in writing Chinese (hanzi Japanese ( Hanja is the Korean name for Chinese characters. More specifically it refers to those Chinese characters borrowed from Chinese and incorporated are the Chinese characters that are used in the modern Japanese logographic writing system along with Hiragana (ひらがな 平仮名 Katakana This article is mainly about the spoken Korean language See Hangul for details on the native Korean writing system is a language spoken by over 130 million people in Japan and in Japanese emigrant communities However, they do not share the same names for the subdivisions.

Renminbi means "people's currency". As the Communist Party of China took control of ever larger territories in the latter part of the Chinese Civil War, its People's Bank of China began in 1948 to issue a unified currency for use in Communist-controlled territories. The Communist Party of China ( CPC) ( also known as the Chinese Communist Party ( CCP) is the founding and ruling political party of the The People's Bank of China ( PBC or PBOC) ( is the Central bank of the People's Republic of China (not to be confused with the Bank Also denominated in yuan, this currency was identified by different names, including "People's Bank of China Bank Notes" (traditional Chinese: 中國人民銀行鈔票; simplified Chinese: 中国人民银行钞票; from November 1948), "New Currency" (traditional Chinese: 新幣; simplified Chinese: 新币; from December 1948), "People's Bank of China Notes" (traditional Chinese: 中國人民銀行券; simplified Chinese: 中国人民银行券; from January 1949), "People's Notes" (人民券, as an abbreviation of the last name), and finally "People's Currency", or "renminbi", from June 1949. ^[3]

First series, 1948-1955

The first series of renminbi banknotes was introduced by the People's Bank of China in December 1948, about a year before the Chinese Communist Party's victory in the Chinese Civil War. The People's Bank of China ( PBC or PBOC) ( is the Central bank of the People's Republic of China (not to be confused with the Bank The Communist Party of China ( CPC) ( also known as the Chinese Communist Party ( CCP) is the founding and ruling political party of the It was issued only in paper money form and replaced the various currencies circulating in the areas controlled by the communists. One of the first tasks of the new government was to end the hyperinflation that had plagued China in the final years of the Kuomintang (KMT) era. Certain figures in this article use Scientific notation for readability That achieved, a revaluation occurred in 1955, at the rate of 1 new yuan = 10,000 old yuan.

Banknotes

Main article: First series of the renminbi

On December 1, 1948, the newly-founded People's Bank of China introduced notes in denominations of 1, 5, 10, 20, 50, 100 and 1000 yuan. The first series of Renminbi banknotes was introduced during the Chinese Civil War by the newly-founded People's Bank of China on December 1, 1948 Events 800 - Charlemagne judges the accusations against Pope Leo III in the Vatican Year 1948 ( MCMXLVIII) was a Leap year starting on Thursday (link will display the 1948 calendar of the Gregorian calendar. The People's Bank of China ( PBC or PBOC) ( is the Central bank of the People's Republic of China (not to be confused with the Bank Notes for 200, 500, 5000 and 10,000 yuan followed in 1949, with 50,000 yuan notes added in 1950. A total of 62 different designs were issued. The notes were officially withdrawn on various dates between April 1, 1955 to May 10, 1955. Events 527 - Byzantine Emperor Justin I names his nephew Justinian I as co-ruler and successor to the throne Year 1955 ( MCMLV) was a Common year starting on Saturday (link displays the 1955 Gregorian calendar) Events 1291 - Scottish Nobles recognize the authority of Edward I of England. Year 1955 ( MCMLV) was a Common year starting on Saturday (link displays the 1955 Gregorian calendar)

These first renminbi notes were printed with the words "People's Bank of China", "Republic of China", and the denomination, written in Chinese characters by Dong Biwu. The People's Bank of China ( PBC or PBOC) ( is the Central bank of the People's Republic of China (not to be confused with the Bank REPUBLIC OF CHINA ARTICLE GUIDELINES Dong Biwu ( Chinese: 董必武 Pinyin: Dǒng Bìwǔ Wade-Giles: Tung Pi-wu 1886 - 2 April 1975 was a Chinese communist political ^[4]

The name "renminbi" was first recorded as an official name in June 1949. After work began in 1950 to design the second series of the renminbi, the previous series were retroactively dubbed the "first series of the renminbi". ^[5]

Second renminbi yuan, 1955 -present

Chinese price sticker

The second series of renminbi banknotes was introduced in 1955. During the era of the command economy, the value of the renminbi was set to unrealistic values in exchange with western currency and severe currency exchange rules were put in place. A planned economy or directed economy is an Economic system in which the Government or Workers' councils manages the Economy. With the opening of the mainland Chinese economy in 1978, a dual-track currency system was instituted, with renminbi usable only domestically, and with foreigners forced to use foreign exchange certificates. The unrealistic levels at which exchange rates were pegged led to a strong black market in currency transactions. In Finance, the exchange rates (also known as the foreign-exchange rate, forex rate or FX rate) between two currencies specifies how

In the late 1980s and early 1990s, the PRC worked to make the RMB more convertible. Through the use of swap centres, the exchange rate was brought to realistic levels and the dual track currency system was abolished.

The renminbi is convertible on current accounts but not capital accounts. In Economics, the current account is one of the two primary components of the Balance of payments, the other being the Capital account. In Financial accounting, the capital account is one of the accounts in Shareholders' equity. The ultimate goal has been to make the RMB fully convertible. However, partly in response to the Asian financial crisis in 1998, the PRC has been concerned that the mainland Chinese financial system would not be able to handle the potential rapid cross-border movements of hot money, and as a result, as of 2007, the currency trades within a narrow band specified by the Chinese central government. The Asian Financial Crisis was a period of Financial crisis that gripped much of Asia beginning in July 1997 and raised fears of a worldwide economic meltdown ( Year 1998 ( MCMXCVIII) was a Common year starting on Thursday (link will display full 1998 Gregorian calendar) Hot money is a phrase that may take on different meanings in different contexts

Coins

In 1955, aluminium 1, 2 and 5 fen coins were introduced. In 1980, brass 1, 2, and 5 jiao and cupro-nickel 1 yuan coins were added, although the 1 and 2 jiao were only produced until 1981, with the last 5 jiao and 1 yuan issued in 1985. In 1991, a new coinage was introduced, consisting of an aluminium 1 jiao, brass 5 jiao and nickel-clad-steel 1 yuan. Issuance of the 1 and 2 fen coins ceased in 1991, with that of the 5 fen halting a year later. The small coins were still made for annual mint sets, and from the beginning of 2005 again for general circulation. New designs of the 1 and 5 jiao and 1 yuan were introduced in between 1999 and 2002. The fen and jiao have become increasingly unnecessary as prices have increased. Chinese retailers tend to avoid decimal values (such as ¥9. 99), opting instead for integer values of yuan (such as ¥9 or ¥10). ^[6]

The use of coins varies from place to place. For example, coins are more often used for values less or equal to 1 yuan in Shanghai and Shenzhen but banknotes of the lower value are more often used than coins in Beijing and Xi'an. Shanghai ( 上[[wikt 海|海]] is the largest city in China in terms of population and one of the largest urban areas in the world with over 20 million Shenzhen is a city of sub-provincial administrative status in southern China's Guangdong province situated immediately UserEl_C --> Xi'an ( Postal map spelling: Sian is the Capital of the Shaanxi province in the

Banknotes

Collection of Chinese yuan (renminbi) banknotes. ¹⁄₁₀ yuan to 10 yuan notes are of the fourth series of the renminbi. The fourth series of the Renminbi was the series introduced between 1987 and 1997, although the banknotes were dated 1980, 1990, or 20 to 100 yuan (red) are of the fifth series of the renminbi. The fifth series of the renminbi is the current coin and banknote series of the Chinese currency the Renminbi. The polymer note on the lower right commemorates the third millennium.

In 1955, notes (dated 1953), were introduced in denominations of 1, 2 and 5 fen, 1, 2 and 5 jiao, and 1, 2, 3, 5 and 10 yuan. Except for the three fen denominations and the 3 yuan, notes in these denominations continue to circulate, with 50 and 100 yuan notes added in 1980 and 20 yuan notes added in or after 1999.

The denomination of each banknote is given in the Chinese. The numbers themselves are given in financial Chinese numeral characters, as well as Arabic numerals. Chinese numerals are characters for writing Numbers in Chinese. The arabic numerals (often capitalized are the ten Digits (0 1 2 3 4 5 6 7 8 9 which—along with the system The denomination and the words "China People's Bank" are also given in Yi, Mongol, Tibetan, Uyghur and Zhuang on the back of each banknote. Yi (also Moso Lolo Noso etc) is a family of closely related tonal Tibeto-Burman languages spoken by the Yi people. The Mongolian language (mn [[ImageMonggol kelesvg 17px]] Mongɣol kele, Cyrillic: Монгол хэл Mongol khel) is the best-known member of Tibetan refers to a group of languages spoken primarily by Tibetan peoples who live across a wide area of eastern Central Asia bordering South Asia as well as by overseas Uyghur (/ ug-Latn Uyƣurqə/ug-Cyrl Уйғурчә, or / ug-Latn Uyƣur tili/ug-Cyrl Уйғур The Zhuang language ( autonym: Cuengh or Cueŋь) is used by the Zhuang people in the People's Republic of China. On the front of the note is also the representation of the denomination in Chinese braille starting from the fourth series. Chinese braille ( literally "Current Braille" is a Braille system for the Chinese language, especially in People's Republic of China.

Second series

Main article: Second series of the renminbi

The second series of renminbi banknotes (the first having been issued for the previous currency) was introduced on March 1, 1955. The second series of Renminbi banknotes was introduced since March 1, 1955. Events 86 BC - Lucius Cornelius Sulla, at the head of a Roman Republic army enters in Athens, removing the Tyrant Year 1955 ( MCMLV) was a Common year starting on Saturday (link displays the 1955 Gregorian calendar) Each note has the words "People's Bank of China" as well as the denomination in the Uyghur, Tibetan, Mongol and Zhuang languages on the back, which has since appeared in each series of renminbi notes. Uyghur (/ ug-Latn Uyƣurqə/ug-Cyrl Уйғурчә, or / ug-Latn Uyƣur tili/ug-Cyrl Уйғур Tibetan refers to a group of languages spoken primarily by Tibetan peoples who live across a wide area of eastern Central Asia bordering South Asia as well as by overseas The Mongolian language (mn [[ImageMonggol kelesvg 17px]] Mongɣol kele, Cyrillic: Монгол хэл Mongol khel) is the best-known member of The Zhuang language ( autonym: Cuengh or Cueŋь) is used by the Zhuang people in the People's Republic of China. The denominations available in banknotes were ¥0. 01, ¥0. 02, ¥0. 05, ¥0. 1, ¥0. 2, ¥0. 5, ¥1, ¥2, ¥3, ¥5 and ¥10.

Third series

Main article: Third series of the renminbi

The third series of renminbi banknotes was introduced on April 15, 1962. The third series of Renminbi banknotes was introduced since April 15, 1962. Events 1450 - Battle of Formigny: Toward the end of the Hundred Years' War, the French attack and nearly annihilate English Year 1962 ( MCMLXII) was a Common year starting on Monday (the link is to a full 1962 calendar of the Gregorian calendar. For the next two decades, the second and third series banknotes were used concurrently. The denominations were of ¥0. 1, ¥0. 2, ¥0. 5, ¥1, ¥2, ¥5 and ¥10. The third series was phased out during the 1990s and then was recalled completely on July 1, 2000. "July 1st" redirects here For the Ayumi Hamasaki song see H (song. 2000 ( MM) was a Leap year that started on Saturday of the Common Era, in accordance with the Gregorian calendar.

Fourth series

Main article: Fourth series of the renminbi

The fourth series was introduced between 1987 and 1997, although the banknotes were dated 1980, 1990, or 1996. The fourth series of the Renminbi was the series introduced between 1987 and 1997, although the banknotes were dated 1980, 1990, or Year 1997 ( MCMXCVII) was a Common year starting on Wednesday (link will display full 1997 Gregorian calendar Year 1980 ( MCMLXXX) was a Leap year starting on Tuesday (link displays the 1980 Gregorian calendar) Year 1990 ( MCMXC) was a Common year starting on Monday (link displays the 1990 Gregorian calendar) Year 1996 ( MCMXCVI) was a Leap year starting on Monday (link will display full 1996 Gregorian calendar) They are still legal tender. Banknotes are available in denominations of ¥0. 1, ¥0. 2, ¥0. 5, ¥1, ¥2, ¥5, ¥10, ¥50 and ¥100.

Fifth series

Main article: Fifth series of the renminbi

In 1999, a new series of renminbi banknotes and coins was progressively introduced. The fifth series of the renminbi is the current coin and banknote series of the Chinese currency the Renminbi. The fifth series consists of banknotes for ¥1, ¥5, ¥10, ¥20, ¥50 and ¥100.

Possible future design

On March 13, 2006, some delegates to an advisory body at the National People's Congress proposed to include Sun Yat-sen and Deng Xiaoping on the renminbi banknotes. Events 1138 - Cardinal Gregorio Conti is elected Antipope as Victor IV, succeeding Anacletus II. Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. A similar term is "National Congress" which is a less common translation of People's Political Consultative Conference. Sun Yat-sen ( November 12, 1866 &ndash March 12, 1925) was a Chinese Revolutionary and political leader often Deng Xiaoping ( 22 August 1904 19 February 1997) was a prominent Chinese Revolutionary, Politician, Pragmatist and Reformer However, the proposal is a long way from becoming law. ^[7]

Use outside mainland China

The two special administrative regions, Hong Kong and Macau, have their own respective currencies. A Special Administrative Region ( SAR) is a high autonomous administrative division of the People's Republic of China. Hong Kong ( officially the Hong Kong Special Administrative Region, is a territory located on China 's south coast on the Pearl River Delta, and borders For a topic outline on this subject see List of basic Macau topics. According to the "one country, two systems" principle and the basic laws of the two territories,^[8][9] national laws generally do not apply. " One country two systems " is an idea originally proposed by Deng Xiaoping during the early 1980s then Paramount Leader of the People's Republic Therefore, the Hong Kong dollar and the pataca remain the legal tenders in the two territories, and renminbi, although accepted, is not legal tender. The pataca ( ISO 4217 code MOP) is the currency of Macau. It is subdivided into 100 avos ( Cantonese: 仙 sin)

The RMB is the second most popular currency in Hong Kong and is becoming the principal trading currency in the region. Hong Kong ( officially the Hong Kong Special Administrative Region, is a territory located on China 's south coast on the Pearl River Delta, and borders ^[10][11] Banks in Hong Kong allow people to maintain accounts in RMB. ^[12]

The RMB had a presence in Macau even before the 1999 return to the People's Republic of China from Portugal. Portugal, officially the Portuguese Republic (República Portuguesa is a country on the Iberian Peninsula. Banks in Macau can issue credit cards based on the renminbi but not loans. Renminbi based credit cards can not be used in Macau's casinos. A casino is in the modern sense of the word a facility that houses and accommodates certain types of Gambling activities ^[13]

The current Republic of China government on Taiwan believes wide usage of the renminbi would create an underground economy and undermine its sovereignty. REPUBLIC OF CHINA ARTICLE GUIDELINES Sovereignty is the exclusive Right to control a Government, a country, a people or oneself ^[14] Tourists are allowed to bring in up to 20,000 renminbi when visiting Taiwan. These renminbi must be converted to the New Taiwan dollar at trial exchange sites in Matsu and Kinmen. The New Taiwan dollar ( ( Currency code TWD and common abbreviation NT$) or simply Taiwan dollar, is the official Currency of the Kinmen, ( Traditional Chinese: 金門 Simplified Chinese: 金门 Hanyu Pinyin: Jīnmén Tongyong Pinyin: Jinmén Wades-Giles ^[15] The Chen Shui-bian administration insisted that it would not allow full convertibility until the mainland signs a bilateral foreign exchange settlement agreement,^[16] though president Ma Ying-jeou has pledged to allow full convertibility as soon as possible. Chen Shui-bian ( born October 12, 1950) is a Taiwanese politician and former President of the Republic of China. Convertibility is the quality of paper Money substitutes which entitles the holder to redeem them on demand into money proper NOTICE***************

Cambodia and Nepal welcome the renminbi as an official currency and Laos and Myanmar allow it in border provinces. The Kingdom of Cambodia ( formerly known as Kampuchea (, transliterated: Preăh Réachéanachâkr Kâmpŭchea) is a country in South East Nepal (नेपाल) is a Landlocked country in South Asia. Laos (ˈlɑːoʊs or /ˈlaʊs/ officially the Lao People's Democratic Republic, is a Landlocked country in Southeast Asia, bordered by Burma Burma, officially the Union of Myanmar ( pjìdàunzṵ mjàmmà nàinŋàndɔ̀ is the largest country by geographical area in mainland Southeast Asia. Though unofficial, Vietnam recognizes the exchange of renminbi to đồng. Vietnam (ˌviːɛtˈnɑːm Việt Nam) officially The đồng (IPA dɔŋ ( sign: ₫; code: VND) is the Currency of Vietnam since May 3, 1978 ^[17]

Exchange rate

In the decade until 2005, China's currency had been tightly pegged at 8. 2765 yuan to the U.S. dollar. The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been On July 21, 2005, the People's Bank of China, revaluing the yuan to 8. Events 356 BC - Herostratus sets fire to the Temple of Artemis in Ephesus, one of the Seven Wonders of the World Year 2005 ( MMV) was a Common year starting on Saturday (link displays full calendar of the Gregorian calendar. 11 per U. S. dollar,^[18] removed the peg to the dollar and moved to a managed floating exchange rate based on market supply and demand with reference to a basket of foreign currencies. A basket is an economic term for a group of several securities created for the purpose of simultaneous buying or selling The daily trading price of the U. S. dollar against the RMB in the inter-bank foreign exchange market would be allowed to float within a narrow band of 0. 3% around the central parity published by the PBC; in a later announcement published on May 18, 2007, the band was extended to 0. Events 1152 - Henry II of England marries Eleanor of Aquitaine. Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. 5%. ^[19] The PRC has stated that the basket is dominated by the U.S. dollar, euro, Japanese yen and South Korean won, with a smaller proportion made up of the British pound, Thai baht, Russian ruble, Australian dollar, Canadian dollar and Singapore dollar. The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been Please update other articles as well to avoid contradiction within Wikipedia e The won (ko 원 ( sign: ₩; code: KRW) is the currency of South Korea. The Pound Sterling ( symbol £; ISO code: GBP) subdivided into 100 pence (singular penny) is the Currency The ruble or rouble (рубль rublʹ, plural ru рубли́ rubli; see note on English spelling and Russian plurals with numbers The Australian dollar ( sign: $; code: AUD) is the Currency of the Commonwealth of Australia, including Christmas The dollar ( sign: $; code: SGD) is the Currency of Singapore.

On June 12, 2008, the renminbi traded at 6. Events 1381 - Peasants' Revolt: in England, rebels arrive at Blackheath. 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common 9015 yuan per U. S. dollar, which is an 19. 92% increase and the highest rate since the removal of the peg. Earlier, on April 10, 2008, it traded at 6. Events 879 - Louis III becomes King of the Western Franks. 1407 - the lama 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common 9920 yuan per U. S. dollar, which is the first time in more than a decade that a dollar bought less than seven yuan. ^[20]

Scholarly studies suggest that the yuan is undervalued on the basis of purchasing power parity analysis (see below). The purchasing power parity ( PPP) theory uses the long-term equilibrium Exchange rate of two currencies to equalize their Purchasing power.

Purchasing power parity

The World Bank estimated that, by purchasing power parity, one United States dollar was equivalent to approximately ¥1. The World Bank is an internationally supported Bank that provides financial and technical assistance to developing countries for development programs (e The purchasing power parity ( PPP) theory uses the long-term equilibrium Exchange rate of two currencies to equalize their Purchasing power. The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been 9 in 2004. ^[21]

The International Monetary Fund estimated that, by purchasing power parity, one United States dollar was equivalent to approximately ¥2. The International Monetary Fund ( IMF) is an International organization that oversees the Global financial system by following the Macroeconomic The purchasing power parity ( PPP) theory uses the long-term equilibrium Exchange rate of two currencies to equalize their Purchasing power. The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been 021 in 2004, ¥2. 047 in 2005, ¥2. 062 in 2006, and is expected to be equivalent to approximately ¥2. 095 in 2007. ^[22]

See also

• Chinese lunar coins
• Economy of the People's Republic of China

References

External links

• Don's World Coin Gallery - China
• Ron Wise's World Paper Money - China, Peoples Republic ^{Mirror site}
• Tables of Modern Monetary Systems by Kurt Schuler - Asia ^{Mirror site}
• The Global History of Currencies - China
• Global Financial Data data series - China Yuan Renmimbi
• Global Financial Data currency histories table ( Microsoft Excel format)
• (Chinese) (English) SinoBanknote
• How to detect counterfeit Chinese money
• Photographs of all Chinese currency and sound of pronunciation in Chinese
• What is the new Chinese currency regime?
• RMB current exchange rate and historical graphs
• Economist article on Chinese currency valuation
• Discussion on how the basket peg works
• Chinese Bill Tracking

News

• China Severs Its Currency's Link to Dollar, Washington Post, 21 July 2005
• China lifts currency basket lid, BBC, 10 August 2005
• 1, 2 and 5 fen banknotes to be withdrawn, from Xinhua online.