The currency RMB is Chinese people's money. National Chinese currency - history and traditions of China

Yuan- monetary unit of the People's Republic of China. The word is used exclusively outside of China; translated as “circle” (“round coin”).

In the Celestial Empire, the lexeme “Renminbi” appears, which should be literally understood as “people’s money”.

International designation - CNY.

The yuan symbol is a Latin letter Y with two slashes. The original name is Yen sign, code is U+00A5. There is a misconception that a letter with one stroke is used to denote the yuan, and a letter with two strokes for the yen.

All about the Chinese yuan currency: bills and coins

1 yuan = 10 jiao = 100 fen.

Fenny is about the same as a penny. This word is translated as “hundredth part”, “one tenth”, “divide”, “split”, “separate”, “discriminate”, “minute”, “point”.

Banknotes:

• 1, 2 (very rare), 5, 10, 20, 50 and 100 yuan;
• 1, 2 and 5 jiao.

Coins:

• 1 yuan;
• 1 and 5 jiao (also colloquially called "mao");
• 1, 2 and 5 fen.

What do yuan look like?

Now in China, banknotes of the fifth series, printed after 1999, are considered the main ones.

On the front side (obverse) there is a portrait of Mao Zedong and flowers, on the other side there is a landscape.

• 1 yuan - 130×63 mm; olive green banknote; orchid and Xihu Lake printed;
• 5 yuan - 135x63 mm; purple bill; daffodil and Mount Taishan;
• 10 yuan - 140×70 mm; blue banknote; rose and 3 rapids of the Yangtze River;
• 20 yuan - 145×70 mm; banknote in brown tones; a lotus is printed, on the reverse side there is a landscape of the urban district of Guilin in southern China;
• 50 yuan - 150×70 mm; green banknote; chrysanthemum and Potala Palace (former residence of the Dalai Lama in the Tibet Autonomous Region of the People's Republic of China);
• 100 yuan - 155x77 mm; red banknote; on the front side is a Japanese plum, on the other side is the People's Congress Palace in Beijing.

1 yuan in the photo: banknote and coins.

Below are photos of yuan in other denominations.

The coins of the new series indicate the denomination and year of minting (in Arabic numerals), and the name of the bank. Coins are minted from different materials: the smallest coins of 1, 2 and 5 fen are made of aluminum. 1 yuan - made of nickel-plated steel. 1 jiao - steel with nickel plating or aluminum alloy, 5 jiao - brass or nickel with brass plating (depending on the year of minting).

How to distinguish real yuan from fake

You should run your finger through Mao Zedong's hair: on large denomination banknotes it is embossed.

Watermarks on real yuan are clear and have strictly defined boundaries.

It is worth looking at the denomination of the banknote at an angle, tilting the bill: a blue halo should be visible around the ornament.

You can use a keychain detector and shine it on the money: real ones contain special threads that glow in ultraviolet light.

A little history

It is believed that money appeared in China (coins - from the 7th century BC, and banknotes - from the 8th century AD, when paper was invented in the Middle Kingdom).

Chinese liang and money from other countries were in use. The currency was silver bars, the weight of which was measured in lians. Liang is still used in China today as a unit of weight (50 grams).

Since 1935, yuan and liang made of silver have been banned in China, and private ownership of this metal has been abolished; They also stopped issuing local currencies.

• branch 514/313 (Minsk Airport str., sector 2);
• exchange offices 527/12 and 527/360 (Privokzalnaya Square, 5);
• exchange office 527/24 (Independence Avenue, 3-2);
• exchange office 500/5 (Independence Avenue, 11/1);
• exchange office 510/11 (28 Internatsionalnaya St.).

He offered yuan at the Central Bank of Ukraine near the railway station (Bobruiskaya St., 15) and at exchange office No. 5 (Partizansky Prospekt, 6A).

The Chinese yuan is the official currency of the People's Republic of China. The name of the currency is yuan, used only abroad. It is translated into Russian as “round coin” or “circle”. The internal name of the currency is Renminbi or, as is customary in Latin spelling, Renminbi, which translates as “people's money”. The ISO code of the Chinese Yuan is 4217, the official abbreviation is CNY.

In the All-Russian Classifier of Currencies, the national currency of China was called:
- Chinese yuan (from 12/26/1994 to 01/01/2001);
- Renminbi yuan (from 01/01/2001 to 02/01/2007);
- Renminbi yuan (from 02/01/2007 to 2009);
- Yuan (from 2009 to the present).

One yuan is made up of ten jiao, and one jiao is made up of 10 fen. For example, an amount of 3.75 yuan would sound like 3 yuan, 7 jiao, 5 fen. In popular pronunciation, kuai is often heard instead of yuan, and jiao is replaced by mao.

Currently, yuan are in circulation in the form of the following banknotes: 1, 5, 10, 20, 50 and 100. Jiao are also issued in banknotes of 1, 2 and 5. The country also has coins in denominations of 1, 2, 5 fen, 1, 5 jiao and 1 yuan. The People's Bank of China is responsible for issuing the yuan.

The administrative regions of the People's Republic of China, Hong Kong and Macau, as well as the province of Taiwan have their own currencies in circulation:
- Hong Kong dollar;
- Pataca Macau;
- Taiwanese dollar.

Despite the fact that these territories actually belong to China, all payments in these regions are carried out only in their own currency, and the Chinese yuan is considered from the point of view of foreign exchange regulation as a foreign currency.

China is the second largest economy in the world. Huge production facilities of various companies from all over the world are located in China. And therefore, a very large amount of money is in yuan. In October 2013, they became the most popular currency in world trade after the dollar. Most often, Chinese currency is used in international payments in China, Hong Kong, Singapore, Germany and Australia.

China financed the US budget deficit for about eight years, spending a total of about $900 billion on the purchase of Treasury bonds. If China now sells them, the dollar faces an inevitable collapse. Taking advantage of the current situation, China is striving to achieve its main goal - to make the yuan a global currency. If the yuan receives reserve currency status, the rules of the game on the world market will be set by China, not the United States.

One of the first attempts to export the yuan was made by China, when it issued government bonds, which later became one of the reserve assets for the Asian Bond Fund 2. A market for yuan-denominated private bonds, nicknamed Dim Sum, was also emerging. At the beginning of 2010, China allowed non-financial companies to issue bonds in yuan. One of the first non-Chinese non-financial companies to take advantage of this opportunity was the American corporation McDonald's.

Another measure aimed at globalizing the Chinese yuan was the launch of the China Foreign Exchange Trade System in Shanghai. This system is a platform for the interbank foreign exchange market, where the yuan is traded in exchange for other world currencies. The trading volume on this platform reaches $37 billion daily. Another important initiative in this direction was the launch of a pilot project in 2009, under which several dozen Chinese companies were allowed to use the yuan for trade transactions outside of China.

The Chinese government plans that in the coming years (according to various estimates in 2015-2016), the yuan will become a convertible currency. This will be another step towards liberalizing the economy and transferring it to a market economy.

Many tourists coming to China are lost in the Chinese monetary system and say that it is quite complex and confusing. Since here except yuan is there some more jiaoand Mao(10 kopecks), and also fen(analogous to a penny), and all the money is called renminbi!

Let's try to figure out how to handle Chinese change and how not to confuse yuan with kopecks.

Yuan元,圆 (yuan). This monetary unit is also called kuai块("piece"). In fact, this is an analogue of our ruble - the most popular national currency in China. Yuan is issued in paper form (notes in denominations of 1, 5, 10, 20, 50, 100) and in the form of coins (1 yuan).

Jiao角 (jiao) or mao毛(mao), is one tenth of yuan or 10 fen分 (fen). Jiao come in paper form in 1, 2 and 5 jiao (2 is extremely rare, even collectors are interested in them) and in the form of coins in 1 and 5 jiao. Fen has not been in use in China for a long time, since inflation is rampant, and prices have long been such that you cannot spend a fen, so don’t take fen as change!

Such diversity often confuses foreigners. And, as everywhere else, you can see the full collection of coins in any fountain - here they also like to throw coins for good luck and good luck.

Be careful, in Tibet (TAR) they do not accept coins, it is not customary to use them here, so do not take coins for change, you will not be able to pay with them anywhere!

Before your trip, check the exchange rate of the yuan in relation to your currency, this will help you not to be tempted by supposedly cheap Chinese goods. By calculating the exchange rate, you will see that everything in China has long been expensive, much more expensive than at home.

In addition, remember that on price tags for weighted goods everything is indicated at a price per half kilogram. 1 jing斤 is a special unit of weight in China. Therefore, when buying fruit, tea, and so on, multiply the price by two so as not to be mistaken in calculating the cost of the purchase.

Of course, bargain. Small traders on the streets always overcharge foreigners to try their luck. If you don't like to bargain, buy products and things in stores where prices are set and indicated on price tags.

You can exchange currency for Chinese yuan at bank branches, for example, Bank of China, as well as at airports and hotels. International credit cards are accepted in major hotels, restaurants and shopping centers. When paying by credit card, be prepared for special fees of 1-2% and the absence of any discounts.

There are problems with maps in Tibet: Either there is no connection, or not every ATM accepts your card, so prepare enough cash for your trip to Tibet. And remember that once you leave Lhasa, you will no longer be able to change your currency to yuan.

Come to China more convenient with dollars. Of course, euros will also be changed for you at the bank. But for a trip to Tibet it is better to take dollars.

Chinese Yuan (元) is the currency of the People's Republic of China. Officially, China's currency is called Renminbi (人民币, People's Money). Yuan is the base unit of Renminbi. One Yuan is divided into 10 Jiao, and one Jiao is divided into 10 Fen. Recently, Fen has practically gone out of circulation. The symbol of the Yuan is ¥, which can be confused with the Japanese Yen, which has the same symbol. In colloquial speech, Yuan is called Kuai, and Jiao is called Mao. The People's Bank of China is responsible for issuing the Yuan. The Chinese Yuan is legal tender throughout mainland China except Hong Kong and Macau. These special administrative regions have the right to use their own currency: Hong Kong uses the Hong Kong dollar, and Macau uses the Macau Pataca. Additionally, the currency of the Republic of China on Taiwan is the New Taiwan Dollar.

Story

Until the end of the 19th century, the main monetary unit of China was the silver Liang (Liang is a measure of weight equal to 37.5 grams). For large payments, iambs were used - silver bars weighing 50 liang. In rural areas, ancient copper coins were actively used. Banknotes and coins of foreign powers were in circulation, such as the Mexican peso and Spanish dollars.

The Yuan was introduced in 1889. In 1890, coinage began, first by the Guangdong Provincial Mint and then by other provinces. In 1903, Yuan began to be issued by the Imperial Bank of China and the Bank of Hu Pu, owned by the central government. One Yuan was equal to 10 Jiao, or 100 Fen, or 1,000 Wen. Brass coins were issued in denominations of 1 Wen, copper coins in denominations of 2, 5, 10 and 20 Wen, and silver coins in denominations of 2 and 5 Jiayu, as well as 1 Yuan. Banknotes were issued in denominations of 1, 2 and 5 Jiao, 1, 2, 5, 10, 50 and 100 Yuan. Banknotes with denominations below 1 Yuan were rare. After the Xinhai Revolution, the Republican government changed the design of the Yuan, but the size and denominations remained unchanged until 1930. Nickel coins began to be minted in 1936, and aluminum coins began in 1940. Until the 1930s, silver lans remained in circulation, and taxes were often collected in them.

After the Xinhai Revolution, along with the central government's Chinese Yuan, currencies issued by local, national and foreign banks were in use. In 1917, the Fentian Yuan appeared, since 1930 the Chinese Soviet Republic began issuing its own currency, and since the 1930s, several currencies issued by the Japanese occupation governments have appeared. From 1930 to 1948, banknotes were also issued in units of customs gold; they circulated on a par with the Yuan. In 1935, the government of the Republic of China carried out monetary reform. The circulation of silver yuan, liang and the issuance of local currencies was prohibited (although in some provinces they were de facto issued until 1949). Private ownership of silver is prohibited. Only four government-controlled banks were allowed to issue money: the Bank of China, the Central Bank of China, the Bank of Communications, and the Farmers' Bank of China. After World War II, the list of banks that were allowed to issue money was expanded. In addition, the silver standard was abolished. This, as well as the excessive emission of money, led to hyperinflation: if in 1935 the Chinese yuan exchange rate was 3.36 yuan per US dollar, then in 1946 it was 3,350 yuan per dollar! Due to high inflation, new denominations were introduced: in 1941, a banknote of 500 yuan appeared, in 1942 - 1,000 and 2,000, in 1945 - 2,500 and 5,000, and in 1947 - 10,000. Due to difficulties associated with Due to the hyperinflation of the Chinese Yuan, the central government issued a new, gold yuan in 1948. The gold yuan, however, was not pegged to gold, and it also quickly depreciated. In 1949, banknotes with denominations up to 5,000,000 Yuan were issued.

The communist government of China minted its own coins from 1931 to 1935, and printed banknotes from 1930. In 1947, it was decided to begin preparatory work for the creation of the People's Bank of China. The People's Bank itself was opened on December 1, 1948. All local money was withdrawn from circulation and exchanged for banknotes of the People's Bank - Renminbi. The issue of money and its circulation are placed under strict state control. The exchange of local money for the new Chinese yuan took place until 1952, and in Tibet - until 1959. The name was not determined immediately. From November 1948, the currency was called "Banknotes of the People's Bank of China", from December 1948 - "New Currency", from December 1948 - "Ticket of the People's Bank of China", in January 1949 simplified to "People's Ticket", and finally, from June 1949 In 2010, the currency acquired its modern name - “People’s Money”, or Renminbi.

The first series of Chinese Yuan banknotes was issued in December 1948. 12 different denominations were issued, up to 50,000 Yuan. The banknotes had 62 different designs, depicting industrial and agricultural activities, modes of transport, and famous places. Before the proclamation of the People's Republic of China, "Republic of China" was printed on banknotes. Banknotes were issued to replace the Kuomintang's Yuan, as well as a variety of local currencies. In the first series, no coins were minted.

The second series was introduced in 1955. Some of the bills were printed in 1953 in the USSR; these bills were withdrawn in 1964 due to the Sino-Soviet controversy. To combat hyperinflation, denomination was carried out. Banknotes of the second series were exchanged for old ones at the rate of 10,000 old Yuan for 1 new one. Each ticket bore the words "People's Bank of China" in Chinese, Uyghur, Tibetan and Mongolian. Banknotes of the second series were withdrawn from circulation from 1999 to 2007.

The third series of banknotes was introduced into circulation in 1962. For several decades, banknotes of the second and third series were used simultaneously. The third series was completely withdrawn in 2000.

The fourth series of banknotes was introduced from 1987 to 1997. The bills are dated 1980, 1990 and 1996. The fourth series is still approved for use, although it is gradually being withdrawn from circulation.

Banknotes of the fifth series

Series 5 banknotes have been gradually introduced since 1999.

Denomination	Obverse	Reverse	Comments
		130 × 63 mm. On the obverse is Mao Zedong. On the reverse is a landscape of Xihu Lake in Hangzhou.
		135 × 63 mm. On the obverse is Mao Zedong. On the reverse is a landscape of Mount Taishan.
		140 × 70 mm. On the obverse is Mao Zedong. On the reverse is a landscape of the Three Gorges Valley.
		145 × 70 mm. On the obverse is Mao Zedong. On the reverse is a landscape of Guilin.
		150 × 70 mm. On the obverse is Mao Zedong. On the reverse is the Potala Palace in Lhasa.
		155 × 77 mm. On the obverse is Mao Zedong. On the reverse is the Great Hall of the People in Beijing.

Exchange rate

Immediately after its creation, the Chinese Yuan exchange rate was strictly pegged to the US Dollar. Until the 1970s, the rate was 2.46 yuan per dollar, by 1980 it rose to 1.5 yuan per dollar. In the 1980s, due to economic reform, China became more export-oriented. To improve competitiveness and reduce the cost of its goods, the Chinese government began to undervalue the Yuan. By 1994, the rate had fallen to 8.62 yuan per dollar, its lowest level in history. The undervalued exchange rate of the Yuan causes many complaints from the world community, and especially from the United States, which suffers the most from this. The negative US trade balance in trade with China in 2005 reached $162 billion, and economic growth slowed. China is under constant pressure from the EU, Japan, the USA, and other countries insisting on liberalizing the yuan exchange rate and its free conversion. The Chinese government is taking steps in this direction.

In 2005, China abandoned the Yuan's peg to the Dollar, pegging it to a currency basket. The currency basket is dominated by the US dollar, Euro, Japanese Yen and South Korean Won; the British pound, Thai baht, Russian ruble, Australian dollar, Canadian dollar and Singapore dollar are of lesser importance. In addition, the Yuan exchange rate was strengthened to 8.11 Yuan per US dollar. Liberalization of the Yuan exchange rate is also associated with the permission to change the price of the Yuan when trading on the foreign exchange market by 0.3% from the value published by the People's Bank of China. In 2007, the scope was expanded to 0.5%. In 2008, the Yuan traded for the first time at less than 7 yuan per US dollar. Since 2005, the Yuan has strengthened by more than 22%. According to various studies, the yuan is still undervalued by up to 37%. During the global financial crisis, the yuan was unofficially pegged back to the US dollar.

Modern Chinese Yuan exchange rate

As of the summer of 2012, the exchange rate of the Chinese yuan to the Russian ruble is about 5 rubles per yuan. Ukrainian hryvnia - 1.2 hryvnia per yuan, Kazakh tenge - 23.5 tenge per yuan.

One of the symbols of the country, as well as a sign of the strength of the state in economic terms, is its currency. For the world community, each currency has its own meaning and designation. Market economies around the world are tied to certain basic monetary units. We are talking about the US dollar, which largely determines pricing policy, and the euro, the basis of European markets. China and its currency are also quickly breaking into the world economy. The yuan currency has long been used in this country.

Introduction of the modern yuan into use

The beginning of the existence of this currency can be dated back to the nineteenth century, but the yuan determined its more modern status in 1948, when at the same time the controlling authority for monetary use, the People's Bank of China, was created, and the country's unified monetary unit was recognized.

Yuan graphic symbol

But another stage of development was the second in 1955, as a result of which its first graphic designation appeared. It was during this period that the yuan as a currency acquired its symbol, which is still relevant today. It is not surprising that its designation was adopted in the form of the first Latin letter in the spelling of the name of this currency. In addition, parallel horizontal lines were added to the designation. Their goal was to create a distinctive effect from the Chinese character, which means “ruin, fork.”

To determine the Chinese currency, a fairly simple graphic symbol is used. Yuan is depicted this way: Ұ. Exactly one lane is provided for by the current rules, but this is only theoretical. In all places where it becomes necessary to define a currency like the yuan, they use a symbol that is very similar to the same Latin letter, but only with two horizontal lines: ¥. This connection arose due to the fact that the names of the Japanese and Korean currencies come from the original Chinese character, which was already mentioned and which means “ruin, fork.” This graphical nuance is also explained by the settings in computer software systems. Simply put, the default Chinese font is SimSun, where the character is represented with a single stripe. To still print it as originally intended, you need to select the MingLiu font in the settings.

Features of using the yuan graphic symbol

There is also another feature of the Chinese yuan designation. It is customary that all currency signs are indicated after the amount. But it is the yuan symbol that is placed in front of it that distinguishes it from the US dollar, euro and many other currencies. An example of reflection would be writing the price on goods where they are indicated in this way: ¥34 if the purchase costs 34 yuan.

In addition to the graphic designation of the Chinese yuan, there is another option for defining the currency without its actual presence. To bring all world norms into uniform standards, there is an organization that is responsible for determining all international indicators into one system. The International Organization for Standardization, abbreviated and more recognizable as ISO, has also created a standard for designating world monetary units when conducting foreign exchange transactions. ISO 4217 defines a three-digit digital code for the purchase or sale of a currency in order to regulate global financial markets. The first two characters indicate the country where the unit originates, the third character shows the name of the currency, basically the first letter. The yuan currency looks like CNY, that is, CHINA YUAN.

Additional letter designation of the yuan

The Chinese yuan is also known as renminbi, which is more understandable to the Chinese as “the people’s currency.” This name also could not go unnoticed, so there is a designation different from CNY. Yuan is also written as RMB - from Renminbi. The first variant of the letter reflection is more often used, since this yuan sign corresponds to the officially approved name of the currency. As for the second encoding, the decoding “people’s money” and in calculations is more used only in the Chinese economy.

Digital version of the yuan symbol

For encoding when carrying out there is also a digital designation. It is customary to display the yuan as a number equal to 156. Information about this code is useful for bank employees, accountants, economists, and all those who conduct transactions in this monetary unit in operational programs. This is exactly how currencies are displayed in digital documents. Simply enter code 156 - and immediately next to the amount the name of the currency or the letter designation of the Chinese yuan will be displayed. This type of writing helps to simplify the maintenance of financial documents and reduce possible errors when displaying the world's monetary units.

Universal symbol of world currencies

There are different currencies of the world, the designations of which are widely known. Each of them not only systematizes the entire money market, but also contributes to the efficient conduct of transactions between enterprises in different countries, as well as the consolidation of economies. In addition to codes and monetary units of specific states, there is also a symbol that is accepted as a universal sign to denote any currency. It is mainly used when a transaction is made in a rarely used monetary unit or one that does not have its own designation. This graphic symbol looks like this: “¤”. It first appeared in the global economy in 1972. At that time, they decided to use it to replace the familiar American dollar sign in the process of generating financial statements on a computer. It was originally planned that $ could play the role of a universal symbol. That is why the Europeans used a different sign, since they were very opposed to the fact that the dollar with its designation would come to the forefront. In those days, in the first software systems, even the universal currency sign and the dollar sign had the same ASCII encoding. But after some time, a code was introduced for “¤” in the Unicode code table.

Thus, it was decided to use “¤” as a universal sign of money. To determine and specify in which currency a particular operation is carried out, it is necessary to carefully study the full text of the document, where the designation for all currencies is used, that is, writing the sign “¤” with a digital symbol means the sum of units of a certain currency equal to these numbers.

Instead of output

Signs are always and everywhere present in the life of any person. Monetary symbols are no exception. Each of them carries a semantic load. The Chinese yuan was no exception, like all currencies of the world. Their designations have their own meaning, and also, as experts in the popular Feng Shui teaching in this country can say, influence on the development of the entire economy of the state and its prosperity. The current complete success of almost all industries in China makes it clear that the currency designations were chosen correctly.