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Renminbi
The renminbi ( ; currency symbol, symbol: Yen and yuan sign, ¥; ISO 4217, ISO code: CNY; abbreviation: RMB), also known as the Chinese yuan, is the official currency of the China, People's Republic of China. The renminbi is issued by the People's Bank of China, the Central bank, monetary authority of China. It is the world's Template:Most traded currencies, fifth-most-traded currency as of April 2022. The Yuan (currency), yuan () is the basic unit of the renminbi. One yuan is divided into 10 Jiao (currency), jiao (), and the jiao is further subdivided into 10 Fen (currency), fen (). The word ''yuan'' is widely used to refer to the Chinese currency generally, especially in international contexts. Valuation Until 2005, the value of the renminbi was Fixed exchange-rate system, pegged to the United States dollar, US dollar. As China pursued its Chinese economic reform, transition from planned economy, central planning to a market economy and increased its participation in foreign ... [...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, inste ... [...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 Renminbi, Chinese yuan currency, currencies when writing in Latin scripts. This character resembles a capital 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 or Chinese character is written following the amount, for example in Japan, and or in China. History Japan After the institution of Japan's Japanese currency#Imperial Japan (1871–present), New Currency Act, from 1871 through the early 20th century, the yen was either referred to (in documents printed in Latin script) by its full name ''yen,'' or abbreviated with a capital "Y". One of the earliest uses of can be found in J. Twizell Wawn's "Japanese Municipal Government With an Account of the Administration of the City of Kobe", published in 1899. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Dollar
The United States dollar (Currency symbol, symbol: Dollar sign, $; ISO 4217, currency code: USD) is the official currency of the United States and International use of the U.S. dollar, several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish dollar, Spanish silver dollar, divided it into 100 cent (currency), cents, and authorized the Mint (facility), 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 U.S. dollar was originally defined under a bimetallism, bimetallic standard of (0.7734375 troy ounces) fine silver or, from Coinage Act of 1834, 1834, fine gold, or $20.67 per troy ounce. The Gold Standard Act of 1900 linked the dollar solely to gold. From 1934, its equivalence to gold was revised to $35 per troy ounce. In 1971 all links to gold were repealed. The U.S. dollar became an important intern ... [...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 four types of Province-level divisions of China, province-level divisions of the China, People's Republic of China directly under the control of its State Council of China, Central People's Government (State Council). As a region, they possess the highest degree of autonomy from China's central government. However, despite the relative autonomy that the Central People's Government offers the special administrative regions, the National People's Congress and its Standing Committee of the National People's Congress, Standing Committee remain 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 China of 1982. Article 31 reads: "The state may establish special administrative regions when necessary. The s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yuan (currency)
The yuan ( ; currency sign, sign: ¥; ; ) is the base unit of a number of former and present-day currency, currencies throughout Greater China, China. A ''yuan'' () is also known colloquially as a ''kuai'' (; originally a lump of silver). One ''yuan'' is divided into 10 ''jiao'' () or colloquially ''mao'' (). One ''jiao'' is divided into 10 ''fen'' (). Modern usage 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 pound sterling, ''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 ''(Japanese yen, yen)'' and ... [...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 lending market, interbank exchange rate of 141 Japanese yen to the United States dollar means that ¥141 will be exchanged for or that will be exchanged for ¥141. In this case it is said that the price of a dollar in relation to yen is ¥141, or equivalently that the price of a yen in relation to dollars is $1/141. Each country determines the exchange rate regime that will apply to its currency. For example, a currency may be floating exchange rate, floating, fixed exchange rate, pegged (fixed), or a hybrid. Governments can impose certain limits and controls on exchange rates. Countries can als ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coin
A coin is a small object, usually round and flat, used primarily as a medium of exchange or legal tender. They are standardized in weight, and produced in large quantities at a mint in order to facilitate trade. They are most often issued by a government. Coins often have images, numerals, or text on them. The faces of coins or medals are sometimes called the ''obverse'' and the ''reverse'', referring to the front and back sides, respectively. The obverse of a coin is commonly called ''heads'', because it often depicts the head of a prominent person, and the reverse is known as ''tails''. The first metal coins – invented in the ancient Greek world and disseminated during the Hellenistic period – were precious metal–based, and were invented in order to simplify and regularize the task of measuring and weighing bullion (bulk metal) carried around for the purpose of transactions. They carried their value within the coins themselves, but the stampings also induced manip ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Purchasing Power Parity
Purchasing power parity (PPP) is a measure of the price of specific goods in different countries and is used to compare the absolute purchasing power of the countries' currency, currencies. PPP is effectively the ratio of the price of a market basket 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 Exchange rate, 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 (GDP), 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 [that] covers around 3,000 consumer goods and services, 30 occupations in government, 200 types of equipment goods and about ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
China
China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after India, representing 17.4% of the world population. China spans the equivalent of five time zones and Borders of China, borders fourteen countries by land across an area of nearly , making it the list of countries and dependencies by area, third-largest country by land area. The country is divided into 33 Province-level divisions of China, province-level divisions: 22 provinces of China, provinces, 5 autonomous regions of China, autonomous regions, 4 direct-administered municipalities of China, municipalities, and 2 semi-autonomous special administrative regions. Beijing is the country's capital, while Shanghai is List of cities in China by population, its most populous city by urban area and largest financial center. Considered one of six ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
People's Bank Of China
The People's Bank of China (officially PBC and unofficially PBOC) is the central bank of the People's Republic of China. It is responsible for carrying out monetary policy as determined by the ''PRC People's Bank Law'' and the ''PRC Commercial Bank Law''. The PBC was established in 1948 as the bank serving areas of mainland China under Chinese Communist Party (CCP) control and became China's sole central bank after the founding of the People's Republic of China in 1949. From 1969 to 1978, the PBC was demoted to a bureau of the Ministry of Finance. The PBC was extensively reformed during the 1990s, when its provincial and local branches were abolished, instead opening nine regional branches. In 2023, these reforms were reversed as when the regional branches were abolished and the provincial branches restored, and new arrangements essentially ended the PBC's longstanding role in financial supervision. The PBC is the 25th-ranked of 26 ministerial-level departments of the St ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
