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Renminbi
The renminbi (; symbol: ¥; ISO code: CNY; abbreviation: RMB) is the official currency of the People's Republic of China and one of the world's most traded currencies, ranking as the fifth most traded currency in the world as of April 2022. The yuan ( or ) is the basic unit of the renminbi, but the word is also used to refer to the Chinese currency generally, especially in international contexts. One yuan is divided into 10 jiao (), and the jiao is further subdivided into 10 fen (). The renminbi is issued by the People's Bank of China, the monetary authority of China. Valuation Until 2005, the value of the renminbi was pegged to the US dollar. As China pursued its transition from central planning to a market economy and increased its participation in foreign trade, the renminbi was devalued to increase the competitiveness of Chinese industry. It has previously been claimed that the renminbi's official exchange rate was undervalued by as much as 37.5% against its ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ISO 4217
ISO 4217 is a standard published by the International Organization for Standardization (ISO) that defines alpha codes and numeric codes for the representation of currencies and provides information about the relationships between individual currencies and their minor units. This data is published in three tables: * Table A.1 – ''Current currency & funds code list'' * Table A.2 – ''Current funds codes'' * Table A.3 – ''List of codes for historic denominations of currencies & funds'' The first edition of ISO 4217 was published in 1978. The tables, history and ongoing discussion are maintained by SIX Group on behalf of ISO and the Swiss Association for Standardization. The ISO 4217 code list is used in banking and business globally. In many countries, the ISO 4217 alpha codes for the more common currencies are so well known publicly that exchange rates published in newspapers or posted in banks use only these to delineate the currencies, instead of transl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
China
China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and borders fourteen countries by land, the most of any country in the world, tied with Russia. Covering an area of approximately , it is the world's third largest country by total land area. The country consists of 22 provinces, five autonomous regions, four municipalities, and two Special Administrative Regions (Hong Kong and Macau). The national capital is Beijing, and the most populous city and financial center is Shanghai. Modern Chinese trace their origins to a cradle of civilization in the fertile basin of the Yellow River in the North China Plain. The semi-legendary Xia dynasty in the 21st century BCE and the well-attested Shang and Zhou dynasties developed a bureaucratic political system to serve hereditary monarchies, or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yen And Yuan Sign
The yen and yuan sign, ¥, is a currency sign used for the Japanese yen and the Chinese yuan currencies when writing in Latin scripts. This monetary symbol resembles a Latin letter Y with a single or double horizontal stroke. The symbol is usually placed before the value it represents, for example: ¥50, or JP¥50 and CN¥50 when disambiguation is needed. When writing in Japanese and Chinese, the Japanese kanji and Chinese character is written following the amount, for example in Japan, and or in China. Code points The Unicode code point is . Additionally, there is a full width character, , at code point for use with wide fonts, especially East Asian fonts. There was no code-point for this symbol in the original (7-bit) US-ASCII and consequently many early systems reassigned (allocated to the backslash (\) in ASCII) to the yen sign. With the arrival of 8-bit encoding, the ISO/IEC 8859-1 ("ISO Latin 1") character set assigned code point to the ¥ in 1985; Unicode conti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yuan (currency)
The yuan (; sign: ¥; ; ) is the base unit of a number of former and present-day currencies in Chinese. A ''yuan'' () is also known colloquially as a ''kuai'' (; originally a lump of silver). One ''yuan'' is divided into 10 ''jiao'' () or colloquially ''mao'' ( "feather"). One ''jiao'' is divided into 10 ''fen'' (). Current usage Today, the term "Yuan" usually refers to the primary unit of account of the renminbi (RMB), the currency of the People's Republic of China. RMB banknotes start at one Yuan and go up to 100 Yuan. It is also used as a synonym of that currency, especially in international contexts – the ISO 4217 standard code for renminbi is CNY, an abbreviation of "Chinese yuan". (A similar case is the use of the terms ''sterling'' to designate British currency and ''pound'' for the unit of account.) The symbol for the yuan (元) is also used in Chinese to refer to the currency units of Japan ''( yen)'' and Korea ''( won)'', and is used to translate the cu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yuan (currency)
The yuan (; sign: ¥; ; ) is the base unit of a number of former and present-day currencies in Chinese. A ''yuan'' () is also known colloquially as a ''kuai'' (; originally a lump of silver). One ''yuan'' is divided into 10 ''jiao'' () or colloquially ''mao'' ( "feather"). One ''jiao'' is divided into 10 ''fen'' (). Current usage Today, the term "Yuan" usually refers to the primary unit of account of the renminbi (RMB), the currency of the People's Republic of China. RMB banknotes start at one Yuan and go up to 100 Yuan. It is also used as a synonym of that currency, especially in international contexts – the ISO 4217 standard code for renminbi is CNY, an abbreviation of "Chinese yuan". (A similar case is the use of the terms ''sterling'' to designate British currency and ''pound'' for the unit of account.) The symbol for the yuan (元) is also used in Chinese to refer to the currency units of Japan ''( yen)'' and Korea ''( won)'', and is used to translate the cu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Special Administrative Regions Of China
The special administrative regions (SAR) of the People's Republic of China are one of the provincial-level administrative divisions of the People's Republic of China directly under the control of its Central People's Government (State Council), being integral areas of the country. As a region, they possess the highest degree of autonomy from China. However, despite the relative autonomy that the Central People's Government offers the special administrative regions, the National People's Congress remains capable of enforcing laws for the special administrative regions. The legal basis for the establishment of SARs, unlike the other administrative divisions of China, is provided for by Article 31, rather than Article 30, of the Constitution of the People's Republic of China of 1982. Article 31 reads: "The state may establish special administrative regions when necessary. The systems to be instituted in special administrative regions shall be prescribed by law enacted by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Dollar
The United States dollar ( symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes, popularly called greenbacks due to their predominantly green color. The monetary policy of the United States is conducted by the Federal Reserve System, which acts as the nation's central bank. The U.S. dollar was originally defined under a bimetallic standard of (0.7735 troy ounces) fine silver or, from 1837, fine gold, or $20.67 per troy ounce. The Gold Standard Act of 1900 linked the dollar solely to gold. From 1934, it ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Exchange Rate
In finance, an exchange rate is the rate at which one currency will be exchanged for another currency. Currencies are most commonly national currencies, but may be sub-national as in the case of Hong Kong or supra-national as in the case of the euro. The exchange rate is also regarded as the value of one country's currency in relation to another currency. For example, an interbank exchange rate of 114 Japanese yen to the United States dollar means that ¥114 will be exchanged for or that will be exchanged for ¥114. In this case it is said that the price of a dollar in relation to yen is ¥114, or equivalently that the price of a yen in relation to dollars is $1/114. Each country determines the exchange rate regime that will apply to its currency. For example, a currency may be floating, pegged (fixed), or a hybrid. Governments can impose certain limits and controls on exchange rates. Countries can also have a strong or weak currency. There is no agreement in the econo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
People's Bank Of China
The People's Bank of China (officially PBC or informally PBOC; ) is the central bank of the People's Republic of China, responsible for carrying out monetary policy and regulation of financial institutions in mainland China, as determined by the People's Bank Law and the Commercial Bank Law. It is a cabinet-level executive department of the State Council. History The bank was established on December 1, 1948, based on the consolidation of the Huabei Bank, the Beihai Bank and the Xibei Farmer Bank. The headquarters was first located in Shijiazhuang, Hebei, and then moved to Beijing in 1949. Between 1950 and 1978 the PBC was the only bank in the People's Republic of China and was responsible for both central banking and commercial banking operations. All other banks within Mainland China such as the Bank of China were either organized as divisions of the PBC or were non-deposit taking agencies. From 1952 to 1955 government shares were added to private banks to make state-p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mainland China
"Mainland China" is a geopolitical term defined as the territory governed by the People's Republic of China (including islands like Hainan or Chongming), excluding dependent territories of the PRC, and other territories within Greater China. By convention, the territories that fall outside of the Chinese mainland include: * Hong Kong, a quasi-dependent territory under PRC rule that is officially designated a " Special Administrative Region of the PRC" (formerly a British colony) * Macau, a quasi-dependent territory under PRC rule that is officially designated a "Special Administrative Region of the PRC" (formerly a Portuguese colony) * Territories ruled by the Republic of China (ROC, commonly referred to as Taiwan), including the island of Taiwan, the Penghu (Pescadores) islands in the Taiwan Strait, and the islands Kinmen, Matsu, and Wuqiu (Kinmen) offshore of Fujian. Overseas Chinese, especially Malaysian Chinese and Chinese Singaporeans, use this term to describe people ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jiao (currency)
A jiao (; ), or mao () (Cantonese: hou []), is a unit of currency used in Greater China, including the People's Republic of China (Mainland China), the Republic of China (Taiwan), Hong Kong and Macao. One jiao is equal to of a yuan or 10 fēn (分). * The Renminbi has coins of 1, 2 and 5 jiao. * The New Taiwan dollar has coins of 5 jiao (rarely used). * The Hong Kong dollar has coins of 1, 2 and 5 hou (known as 10, 20 and 50 cents). * The Macanese pataca has coins of 1, 2 and 5 hou (known as 10, 20 and 50 avos). Gallery See also * Fen (currency) * Chinese yuan The renminbi (; symbol: ¥; ISO code: CNY; abbreviation: RMB) is the official currency of the People's Republic of China and one of the world's most traded currencies, ranking as the fifth most traded currency in the world as of April 2022. ... References Currencies of China {{taiwan-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Purchasing Power Parity
Purchasing power parity (PPP) is the measurement of prices in different countries that uses the prices of specific goods to compare the absolute purchasing power of the countries' currencies. PPP is effectively the ratio of the price of a basket of goods at one location divided by the price of the basket of goods at a different location. The PPP inflation and exchange rate may differ from the market exchange rate because of tariffs, and other transaction costs. The Purchasing Power Parity indicator can be used to compare economies regarding their Gross Domestic Product, labour productivity and actual individual consumption, and in some cases to analyse price convergence and to compare the cost of living between places. The calculation of the PPP, according to the OECD, is made through a ''basket of goods'' that contains a "final product list hatcovers around 3,000 consumer goods and services, 30 occupations in government, 200 types of equipment goods and about 15 constructio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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