Today, China is one of the most powerful and powerful states in the modern world. The constant growth of its economic indicators, the standard of living of the population and the military-industrial complex for the PRC is no longer the goal that needs to be achieved, but part of the reality to which the country's population has already become accustomed for many decades of progress. The Chinese currency in this dynamic development of the entire state until today plays a crucial role, since it, first of all, organizes the economic system within the country, without which the onset of chaos and lack of control for a state of any system will be obvious. The Chinese currency is an integral part of the country's successes, which China has achieved over the years through hard work. Its competent and accurate correlation with the currencies of other countries, the purchasing power in the domestic market and a stable unshakable rate have made it possible to achieve such enviable successes in combination with other sectors of the Chinese economy and the hard work of its population. Their result today is the significant weight of China in the world political arena, a powerful army, achievements in science and a dynamically growing standard of living for ordinary citizens.
The nuances of the monetary system
Today, the Chinese currency bears the proud name of the yuan, which literally means “belonging to money,” and not the currency unit of the Middle Kingdom, as is commonly believed in the rest of the world. That is, the American dollar in China is also the yuan, but with the prefix meo, which, in turn, identifies the currency belonging to the United States by its national name. In the same way, the Chinese call other currencies, combining the prefixes of the sound of a foreign currency in Chinese with the domestic yuan. The native currency in China is commonly called the renminbi, which means literally “people's money”. The Chinese currency yuan is denoted in the international currency market similarly to the Japanese yen ¥, but with an added horizontal line, which, in turn, will allow an attentive person to find the difference in monetary units. Also in the foreign exchange market, the yuan has a bank code CNY and the code of the International Organization for Standardization ISO 4217.
Denomination and rate of Chinese currency
People are divided into smaller currency units of 10 jiao and 100 fen. The system of crushing the renminbi into money of lesser purchasing power is rather peculiar and a bit confusing, but quite intuitive and easy to understand after a brief explanation. In this system, the main thing is to maintain the sequence in which 1 yuan is divided by 10 jiao, and 1 jiao by 10 fen. That is, 4.23 CNY is 4 yuan, 2 jiao and 3 fan. Thus, the Chinese limit themselves in trading from mentioning long decimal phrases related to folk money with less purchasing power, calling them simply separate short nouns. The Chinese currency, although stable, does not have a high enough rate to often use units of purchasing power equal to one hundredth of the renminbi. However, fans are still relevant in distant Chinese provinces. To date, 1 CNY can be exchanged for 5 Russian rubles and 25 kopecks.