Chinese yuan and its stability

The Chinese yuan is the official monetary unit of China. In the international money market, the currency is denominated as CNY (or RMB). Banknotes in hair dryers (1, 2 and 5) are most common; Jiao (1, 2 and 5) and coins in yuan (1, 2, 5, 10, 50, 100). 1 yuan equals 100 jiao or 100 fen. The money is issued by the People's Bank of China.

Yuan is not an international currency, but experts believe that in about 15 years it will become the same as the dollar and euro.

The emergence of the renminbi

The mention of Chinese money appeared 4500 years ago. During the reign of Zhou, they looked like bronze objects, similar to a knife. Money in China acquired a new look in 210 BC. The coin was a copper disk, in the center of which was a hole in the form of a square. The circle represented the sky and the male principle of Yang, and the square - the land and the female beginning of Yin. All coins had a weight of 3.5 g. On the front side there were 4 hieroglyphs depicting the Emperor's motto and the name of the coins. This design was preserved until the 20th century.

During the reign of Tang, there was a coin of Qian, which weighed about 5.4g. Paper bills began to print in 1024, and in 1260, when the Mongolian Yuan dynasty rules, new bills appeared.

In 1835, they began to coin the yuan in the form of silver coins. The Chinese yuan in 1889 was divided into jiao (10), hair dryers (100) and vanie (1000). The single currency was absent in China until 1933 (there were Tibetan sangas, Manchu yuans, Xinjiang yuan, Japanese yens). Yuani in 1935 was withdrawn from circulation and replaced with a gold-based faci.

As the Chinese regions of the country merged in 1948 after the establishment of the People's Bank of China, they introduced a new currency - "renminbi", i.e. "People's money", in other words - yuan.

Modern money in China

The obverse of each banknote indicates the denomination in Chinese and in Braille, and the reverse is in Mongolian, Tibetan, Zhuang and Izu languages.

• 1, 5, 10 yuan depict a portrait of Mao Zedong and the coat of arms, as well as the landscape of the Changyang Gorge;
• The Chinese yuan of 20 is a portrait of Mao Zedong and the coat of arms, on the reverse is the Huanghe River;
• 50 yuan - a portrait of Mao Zedong and the coat of arms, the reverse - the Chinese wall ;
• 100 yuan - a portrait of Mao Zedong, a flying dragon and the Beijing building of ChinaCentury Altar.

CNY. Degree of protection

The banknotes are protected by a relief inscription, a hologram and a transparent window. Small denominations do not have protective strips, so they have a lower degree of protection. Hair Mao - one of the degrees of protection of denominations of great dignity: they are felt under the finger. Around the denomination of the notes there is a blue halo.

Coins in China are jubilee, they are minted from brass. They also issue ritual money, which is called the money of the after-life bank and is used in the execution of funeral rituals. The attitude of the Chinese to these bills is very serious: the dead are given paper money for living in the afterlife.

The financial system of China

Economic conditions in the country are very complex - both external and internal. Nevertheless, in 2011 the financial system of the country worked steadily, the reforms were deepened and the risk elimination potential was improved.

Last year did not reduce the fiscal health indicators of the government, individual farms and enterprises; The financial infrastructure is gradually being built - this was noted in the report on the state of financial stability of the Central Bank of China.

Stress tests showed that 17 major commercial banks of China have a powerful potential to withstand the impacts of macroeconomics.

According to the assessment of the Chinese banking system, banking capital has adequate reserves, but there has been a decline in deposit growth and an increase in pressure on liquidity.

The report noted that, despite the fact that risks sometimes required attention, in general the banking system remained healthy.

The Central Bank of China continues to carry out the further reform process, facilitating the establishment of a base rate through market mechanisms, as well as to improve the mechanism for shaping the exchange rate of the renminbi, and to increase control over risks.