I must say that China's paper money appeared when Russia was still pagan. It is believed that such an event occurred in 910, and the Celestial Empire in this regard was ahead of Europe by more than 700 years (the first issue in 1661, Stockholm), and the Russian Empire by more than eight centuries (bills were issued in Russia in 1769 by order of Catherine II).
The name of money in China is twofold. On the one hand, inside the country they are often called “ginseng” (translated as “what they measure”), on the other hand, in international currency markets they are called Chinese yuan (“yuan” means “unit of measure”) and have a code in CNY classification. The Chinese state has pursued and is pursuing a very successful policy, establishing a fixed rate of its money relative to other world currencies.
For example, in 2004, one dollar in China cost a little more than 8 yuan, which allowed the Celestial Empire to successfully sell its inexpensive goods in foreign markets, including the US (negative trade balance amounted to more than 180 billion dollars). This caused numerous protests from Europe and the same America. However, China’s money in international markets is valued exactly as this powerful eastern power with a fast-growing economy wants it.
In 2005, by decision of the Chinese government, the yuan exchange rate ceased to be rigidly tied to the dollar exchange rate. In addition, a conscious appreciation of the currency by a couple of percent was allowed. Since then, about 6.83 yuan has been paid for the American currency. Today, Chinese money is valued more expensive than Russian, but cheaper than European. For example, for one yuan at the exchange office they will give about 5.5 rubles, or about 17 euro cents.
People preparing to visit this eastern country need to know how much money is in circulation in China. Today, these are banknotes with denominations of 1, 5, 20 and 10, as well as one hundred and fifty yuan and one yuan coin. In the monetary system, a decimal method of calculation is adopted, so there are banknotes called jiao. One jiao equals 1/10 of the renminbi. The denomination of jiao may be one, two, or five. In addition, there are fen coins. One fen is equal to 1/10 of one jiao. In walking there are fies with a face value of five, one and two.
The money of China is most carefully protected by the laws of this country. In particular, for the falsification of banknotes the death penalty was imposed through execution. But this does not stop those who want to cash in on one of the most powerful currencies in the world. In particular, there was a case when in one of the cities in the apartment next to the city hall a printing press worked , which threw out about 101 million US dollars in the yuan equivalent to the economy. The case was very high-profile, and after its completion on edification even exhibitions were held based on the materials of the process. Tourists in this country, as well as in Australia and Southeast Asia, where operations with Chinese currency are widespread, should be very careful when dealing with 100- and 50-yuan notes, as the risk of getting fake is great enough. Moreover, money can get to you not only from street vendors, but also from ATMs. The level of fakes is so high.