The evolution of the Chinese yuan

The evolution of the Chinese yuan


Today China has been in the headlines of almost all the media around the world. In early morning it was announced that for the second consecutive day the currency was devalued Asian giant, which represents the biggest drop in the last two decades. And everywhere it analyzes the consequences of this devaluation and its impact on the world economy. Later there was a huge explosion href=”http://hipertextual.com/2015/08/tianjin-china-explosion” in Tianjin, north-west of the country.

The yuan is also known as renminbi , its name means “people’s currency” and is split into ten jiao or mao and every jiao is divided into ten fen . Its value is written in Chinese financial numbers and Arabic numerals; also bear the legend of the issuing bank: the Bank of China , and is written in Mongolian, Tibetan, Uygur and chuan on the back of each ticket

The yuan to been. issued in series, to date there are five of them. The first just before China established in 1949. The second issued in 1955, third in 1962; the fourth set of RMB banknotes was introduced between 1987 and 1997, although they were dated 1980, 1990 or 1996. The fifth series the iconic image of Mao was introduced progressively from 1999, it appears Tse-Tung on all tickets; href=”http://internacional.elpais.com/internacional/2008/07/07/actualidad/1215381611_850215.html” except special edition of 10 yuan in 2008 in commemorative displayed images of the Olympic Games in Beijing.