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Digital Reminbi
Digital renminbi ( zh, 数字人民币; also abbreviated as digital RMB and e-CNY), or Digital Currency Electronic Payment (DCEP, ), is a central bank digital currency issued by China's central bank, the People's Bank of China. It is the first digital currency to be issued by a major economy, undergoing public testing as of April 2021. The digital RMB is legal tender and has equivalent value with other forms of renminbi, also known as the Chinese yuan (CNY), such as bills and coins. The digital yuan is designed to move instantaneously in both domestic and international transactions.Bloomber(26 Nov 2021) China Looks To Set Up Digital Asset Bourse in Virtual Yuan Push /ref> It aims to be cheaper and faster than existing financial transactions. The technology enables transactions to take place between two offline devices. The digital renminbi is seen by some commentators as a form of Chinese government surveillance and control over users and their financial transactions. History C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Guangzhou
Guangzhou (, ; ; or ; ), also known as Canton () and alternatively romanized as Kwongchow or Kwangchow, is the capital and largest city of Guangdong province in southern China. Located on the Pearl River about north-northwest of Hong Kong and north of Macau, Guangzhou has a history of over 2,200 years and was a major terminus of the maritime Silk Road; it continues to serve as a major port and transportation hub as well as being one of China's three largest cities. For a long time, the only Chinese port accessible to most foreign traders, Guangzhou was captured by the British during the First Opium War. No longer enjoying a monopoly after the war, it lost trade to other ports such as Hong Kong and Shanghai, but continued to serve as a major transshipment port. Due to a high urban population and large volumes of port traffic, Guangzhou is classified as a Large-Port Megacity, the largest type of port-city in the world. Due to worldwide travel restrictions at the beginni ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Guangdong
Guangdong (, ), alternatively romanized as Canton or Kwangtung, is a coastal province in South China on the north shore of the South China Sea. The capital of the province is Guangzhou. With a population of 126.01 million (as of 2020) across a total area of about , Guangdong is the most populous province of China and the 15th-largest by area as well as the second-most populous country subdivision in the world (after Uttar Pradesh in India). Its economy is larger than that of any other province in the nation and the fifth largest sub-national economy in the world with a GDP (nominal) of 1.95 trillion USD (12.4 trillion CNY) in 2021. The Pearl River Delta Economic Zone, a Chinese megalopolis, is a core for high technology, manufacturing and foreign trade. Located in this zone are two of the four top Chinese cities and the top two Chinese prefecture-level cities by GDP; Guangzhou, the capital of the province, and Shenzhen, the first special economic zone in the count ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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 purchas ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank Digital Currency
A central bank digital currency (CBDC) (also called digital fiat currency or digital base money) is a digital currency issued by a central bank, rather than by a commercial bank. A report by the Bank for International Settlements states that, although the term "central bank digital currency" is not well-defined, "it is envisioned by most to be a new form of central bank money ..that is different from balances in traditional reserve or settlement accounts." The present concept of CBDCs was inspired by Bitcoin and similar blockchain-based cryptocurrencies, but differs from such a virtual currency and cryptocurrency in that a CBDC is or would be issued by a state. Most CBDC implementations will likely not use or need any sort of distributed ledger such as a blockchain. CBDCs are presently mostly in the hypothetical stage, with some in proof-of-concept programmes. According to ECB's chief Christine Lagarde, more than 80 central banks are looking at digital currencies. China's di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chinese 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 pur ... [...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] |
Jinhua
, alternately romanized as Kinhwa, is a prefecture-level city in central Zhejiang province in eastern China. It borders the provincial capital of Hangzhou to the northwest, Quzhou to the southwest, Lishui to the south, Taizhou to the east, and Shaoxing to the northeast. Its population was 7,050,683 as of the 2020 census including 1,463,990 in the built-up (or metro) area made of two urban districts (not including yet the satellite city of Lanxi, which has become essentially a suburban offshoot of Jinhua's main urban area). Jinhua is rich in red soil and forest resources. The Jinhua or Wu River flows through the Lan and Fuchun to the Qiantang River beside Hangzhou, which flows into Hangzhou Bay and the East China Sea. In medieval China, it formed part of the water network feeding supplies to the southern end of the Grand Canal. It is best known for its dry-cured Jinhua ham. History and culture The history of Jinhua dates back to the 2nd century BC, when it was a county ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shaoxing
Shaoxing (; ) is a prefecture-level city on the southern shore of Hangzhou Bay in northeastern Zhejiang province, China. It was formerly known as Kuaiji and Shanyin and abbreviated in Chinese as (''Yuè'') from the area's former inhabitants. Located on the south bank of the Qiantang River estuary, it borders Ningbo to the east, Taizhou to the southeast, Jinhua to the southwest, and Hangzhou to the west. As of the 2020 census, its population was 5,270,977 inhabitants among which, 2,958,643 (Keqiao, Yuecheng and Shangyu urban districts) lived in the built-up (or metro) area of Hangzhou-Shaoxing, with a total of 13,035,326 inhabitants. Notable residents of Shaoxing include Wang Xizhi, the parents of Zhou Enlai, Lu Xun, and Cai Yuanpei. It is also noted for Shaoxing wine, meigan cai, and stinky tofu, and was featured on ''A Bite of China''. Its local variety of Chinese opera sung in the local dialect and known as Yue opera is second in popularity only to Peking opera. In 2010, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Huzhou
Huzhou (, ; Huzhounese: ''ghou² cieu¹'') is a prefecture-level city in northern Zhejiang province (Hangzhou–Jiaxing–Huzhou Plain, China). Lying south of the Lake Tai, it borders Jiaxing to the east, Hangzhou to the south, and the provinces of Anhui and Jiangsu to the west and north respectively. As of the 2020 census, its population was 3,367,579 inhabitants, of whom 1,015,937 lived in the built-up (''or metro'') area made of Wuxing District as Nanxun District is not being conurbated yet. Location Huzhou, in its general aspect, is in the center of the Yangtze River Delta Economic Area, with the city center south of the Chinese third largest freshwater lake Lake Tai. There are transportation links to the provincial capital of Hangzhou away in the south, Jiangsu and Anhui province in the west, and the metropolitan municipality of Shanghai to the northeast. Flowing quietly through the city is the Changxing-Huzhou-Shanghai Channel, it is also referred to as the "Eastern ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wenzhou
Wenzhou (pronounced ; Wenzhounese: Yuziou y33–11 tɕiɤu33–32 ), historically known as Wenchow is a prefecture-level city in southeastern Zhejiang province in the People's Republic of China. Wenzhou is located at the extreme south east of Zhejiang Province with its borders connecting to Lishui on the west, Taizhou on the north, and Fujian to the south. It is surrounded by mountains, the East China Sea, and 436 islands, while its lowlands are almost entirely along its East China Sea coast, which is nearly in length. Most of Wenzhou's area is mountainous as almost 76 percent of its surface area is classified as mountains and hills. It is said that Wenzhou has 7/10 mountains, 1/10 water, and 2/10 farmland. At the time of the 2010 Chinese census, 3,039,500 people lived in Wenzhou's urban area; the area under its jurisdiction (which includes three satellite cities and six counties) held a population of 9,122,100 of which 31.16% are non-local residents from outside of Wenz ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ningbo
Ningbo (; Ningbonese: ''gnin² poq⁷'' , Standard Mandarin pronunciation: ), formerly romanized as Ningpo, is a major sub-provincial city in northeast Zhejiang province, People's Republic of China. It comprises 6 urban districts, 2 satellite county-level cities, and 2 rural counties, including several islands in Hangzhou Bay and the East China Sea. Ningbo is the southern economic center of the Yangtze Delta megalopolis, and is also the core city and center of the Ningbo Metropolitan Area. To the north, Hangzhou Bay separates Ningbo from Shanghai; to the east lies Zhoushan in the East China Sea; on the west and south, Ningbo borders Shaoxing and Taizhou respectively. As of the 2020 Chinese National Census, the entire administrated area of Ningbo City had a population of 9.4 million (9,404,283), of which 4,479,635 lived in the built-up (or metro) area of its five urban districts. Within the next decade, the cities of Cixi, Yunhao and Fenghua will likely also be co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
