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However, in written Chinese contexts, the Chinese character for yuan (Chinese: 元; lit. 'constituent', 'part') or, in formal contexts Chinese: 圆; lit. 'round', usually follows the number in lieu of a currency symbol. Renminbi is the name of the currency while yuan is the name of the primary unit of the renminbi.
'American yuan') in Chinese, and the euro is called Ouyuan (simplified Chinese: 欧元; traditional Chinese: 歐元; pinyin: Ōuyuán; lit. 'European yuan'). When used in English in the context of the modern foreign exchange market, the Chinese yuan (CNY) refers to the renminbi (RMB), which is the official currency used in mainland China.
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.
[2] [3] The digital RMB is legal tender [4] and has equivalent value with other forms of renminbi, also known as the Chinese yuan (CNY), such as bills and coins. [2] The digital yuan is designed to move instantaneously in both domestic and international transactions. [2] [5] It aims to be cheaper and faster than existing financial transactions. [2]
($1 = 7.2468 Chinese yuan renminbi) (Reporting by Joan Faus and Supantha Mukherjee, additional reporting by Brenda Goh and Eduardo Baptista; Editing by Kirsten Donovan) Show comments.
Since the late-2000s, the People's Republic of China (PRC) has sought to internationalize its official currency, the Renminbi (RMB). RMB internationalization accelerated in 2009 when China established the dim sum bond market and expanded Cross-Border Trade RMB Settlement Pilot Project, which helps establish pools of offshore RMB liquidity.
Net income attributable to JD.com's ordinary shareholders was 9.9 billion yuan for the quarter ended December 31, compared to 3.4 billion yuan a year earlier. ($1 = 7.2430 Chinese yuan renminbi)
($1 = 7.2651 Chinese yuan renminbi) (Reporting by Brenda Goh, Liam Mo, Che Pan and Casey Hall; Editing by Sandra Maler and Shri Navaratnam) Show comments. Advertisement. Advertisement.