Chinese yuan is the official currency of the People's Republic of China. Officially, Chinese currency is called Ren Min Bi (People's money). Until the end of XIX, silver liang was the main currency of China. Sycee – silver ingots with a weight of 50 liangs each – was used for large payments. Ancient copper coins were actively used in rural areas. Yuan was first introduced in 1889, and coinage by the provincial mint of Guangdong began in in 1890.
One yuan amounted to 10 chiaos, or 100 fens, or 1 000 wens. Afer the Xinhai Revolution, the Republican government changed the design of yuan, but the size and nominal values remained the same until 1930. Nickel coins were being minted since 1936, aluminium ones – since 1940. Nowadays, the currency of the People's Republic of China is considered to be one of the most reliable in the world, which is proven by the fact that it was acknowledged as a reserve currency since 2012. More and more banks and corporations transfer their assets into the Chinese money.
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