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The renminbi (RMB, also known as Chinese yuan; ISO code: CNY) is the official currency of the People's Republic of China. [1] Although it is not a freely convertible currency , and has an official exchange rate , the CNY plays an important role in the world economy and international trade .
The trade weights are not updated monthly; as of March 2016, the base period was the average over 2011–13. Effective exchange rates are useful for gauging whether a currency has appreciated overall relative to trading partners. For example, in 2015 the Chinese RMB depreciated about 8% against the US dollar.
Renminbi currency value is a debate affecting the Chinese currency unit, the renminbi (Chinese: 人民币 Code:CNY). The renminbi is classified as a fixed exchange rate currency "with reference to a basket of currencies ", [ 1 ] which has drawn attention from nations which have freely floated currencies and has become a source of trade friction ...
Meanwhile, the Chinese yuan — which many think is the biggest threat to the dollar — accounted for just 2.37% of reserves in the same period, with a high proportion of that being held by ...
The article is about China's first-level administrative divisions by their gross domestic product per capita in main years. All figures are given in the national currency, renminbi (CNY), and in USD at nominal values, according to China official exchange rates as well as according to purchasing power parity (PPP).
Guizhou province stands out as the region carrying the most significant hike of minimum wage levels in 2016, 55 percent. As of 21 Feb 2023, Shanghai has the highest monthly minimum wage in China's mainland, at 2,590 RMB per month, while Beijing has the highest hourly wage in China's mainland, at 25.3 RMB per hour.
The Chinese yuan also lost ground against the dollar last year and is at a 16-month low. ... This demand is in part due to central banks diversifying their assets from the US dollar into ...
The figures are given in Renminbi. Hong Kong SAR, and Macau SAR are excluded. Chinese administrative divisions by disposable income per capita in 2014 Chinese administrative divisions by nominal GDP per capita in 2014. Disposable income is total personal income minus personal current taxes. In national accounts definitions, personal income ...