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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 .
For most of its early history, the renminbi was pegged to the U.S. dollar at ¥2.46 per USD. During the 1970s it was revalued, until it reached ¥1.50 per USD in 1980. Its value gradually declined as China embarked on a new economic course during Deng Xiaoping's leadership and transformed into a more market-based capitalistic economy. [6] [7]
Waves of Chinese emigration have happened throughout history. They include the emigration to Southeast Asia beginning from the 10th century during the Tang dynasty, to the Americas during the 19th century, particularly during the California gold rush in the mid-1800s; general emigration initially around the early to mid 20th century which was mainly caused by corruption, starvation, and war ...
In October, the Asian Development Bank (ADB) raised a ¥1.2bn 10-year bond, and became the first supranational agency which issued dim sum bonds and also the first issuer listed in the HKSE. The dim sum bond market grew 2.3 times from 2010 (¥35.8bn) to 2013 (¥116.6bn), with an outstanding amount at the end of 2013 of RMF 310bn. [2]
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 ...
Immigration to the People's Republic of China is the international movement of non-Chinese nationals in order to reside permanently in the country.. In the late 1970s, roughly 300,000 ethnic Chinese immigrated from Vietnam to China.
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