I want to know more about RMB?

There are 9 denominations of 100 yuan, including 1 jiao, 5 jiao and 1 yuan, including banknotes and coins. Compared with the third set of RMB, large denominations of RMB 50 and 100 are added. In order to meet the needs of anti-counterfeit RMB work, on August 20, 1992, the revised 1990 version of 50 and 100 yuan coupons was issued, with an added safety line.

The fourth set of RMB has certain innovations and breakthroughs in design ideas, style and printing technology. The main scene pattern embodies the theme of Chinese people of all ethnic groups being united and building socialism with Chinese characteristics under the leadership of the Communist Party of China. In terms of design style, this set of RMB maintains and promotes the traditional characteristics of Chinese national art. The images on the back of the main currency are based on Chinese historical sites, famous mountains and rivers, and the decorations on the back all adopt patterns rich in Chinese national characteristics. In terms of printing technology, the main scenes all use large-scale character head watermarks, and the engraving process is complicated; the banknote paper uses full-page watermarks and fixed portrait watermarks, which not only shows the line picture, but also shows the light and dark levels, and the craftsmanship is very high. , further improving China’s banknote printing technology level and banknote anti-counterfeiting capabilities.

The fifth set of RMB

On October 1, 1999, the People's Bank of China successively issued the fifth set of RMB, including 1 jiao, 5 jiao, 1 yuan and 5 yuan. There are eight denominations of 10 yuan, 20 yuan, 50 yuan and 100 yuan, including 1 jiao, 5 jiao and 1 yuan, including banknotes and coins. According to the needs of market circulation, the fifth set of RMB adds a 20-yuan denomination and cancels the 2-yuan denomination, making the denomination structure more reasonable.

The fifth set of RMB inherits China’s traditional experience in printing technology, draws on advanced technology in foreign banknote design, and has greatly improved its anti-counterfeiting performance and adaptability to the modernization of currency processing. The front of each denomination of currency features Chairman Mao Zedong's portrait in the early days of the founding of the People's Republic of China. The background uses famous Chinese flower patterns. The main scene pattern on the back fully expresses China's long history and magnificent mountains and rivers by selecting representative patterns with national characteristics. , carried forward China’s great national culture.

Ordinary commemorative coins

Ordinary commemorative coins are RMB with a specific theme and are issued in limited quantities. Since the People's Bank of China issued the first set of ordinary commemorative coins in 1984, it has issued 63 sets of 75 ordinary commemorative coins (pieces), with a total circulation of approximately 850 million coins (pieces). These commemorative coins have rich and colorful themes, unique designs, various specifications and materials, and novel and beautiful patterns. They have denominations ranging from 1 dime, 1 yuan, 5 yuan, 10 yuan, 50 yuan, and 100 yuan. They represent the unity and harmony of the Chinese people. The country's glorious achievements and major historical events over the past 50 years are condensed into the square inches of the commemorative coin. These commemorative coins are an important part of the RMB series, enriching and improving China's monetary system, promoting China's monetary culture, and constantly exploring and innovating, playing a positive role in promoting commodity circulation and economic development, and expanding foreign exchanges

Other

Legal currency issued by the People's Bank of China. The unit is yuan (circle). Released on December 1, 1948. Use ￥ as the code name, and take the first letter of the Chinese pinyin of "yuan" (yuan) in capital letters plus two horizontal strokes. After the issuance, the local currencies issued by the liberated areas were gradually recovered, and all were collected in April 1951. Subsequently, various currencies issued by the Kuomintang government were eliminated through exchange methods. In order to establish an independent and unified RMB market, the state prohibits the circulation of gold, silver, and foreign currencies in the market. After controlling the inflation that has continued since the Anti-Japanese War, in order to maintain the long-term stability of the value of the RMB and eliminate the remnants of inflation, the country has issued new RMB since March 1, 1953, depreciating the currency at the rate of 1 yuan. 10,000 yuan is exchanged, and prices, wages and all debts are also converted at this rate. The denominations of RMB notes include main currencies of 100 yuan, 50 yuan, 10 yuan, 5 yuan, 2 yuan, and 1 yuan, auxiliary currencies of 5 jiao, 2 jiao, 1 jiao, 5 cents, 2 cents, and 1 cent, and 1 yuan and 5 jiao. , 2 dimes, 1 dimes, 5 cents, 2 cents, and 1 cent metal coins. Foreign exchange coupons are bills that are equivalent to the RMB in circulation within a designated range. They ceased circulation on July 1, 1995.

On December 2, 1947, Mao Zedong sat on the earthen bed of a farmer's cave in northern Shaanxi and received a telegram from Dong Biwu, the Central Working Committee: "Nan Hanchen has been sent to the Bohai Sea to find Zhang." , Deng discussed specific measures to establish a bank. The name of the bank is proposed to be the People's Bank of China. Please consider complying.

I hope the name will be decided early and will be used when printing banknotes. The Working Committee has agreed..." After Mao Zedong read it, he handed it to Zhou Enlai, who was sitting across the table.

After reading it, Zhou Enlai said: "Nan Hanchen's opinion is that it is imperative to establish a unified national bank and currency. Mao Zedong laughed and said: "The situation is really a bit like the Eight-Nation Allied Forces entering Beijing." We use border coins in Shanxi, Chahar and Hebei, Jinan coins in Shanxi, Hebei, Luyu, Beihai coins in Shandong, Northeast coins in the Northeast, and peasant coins in the Northwest. Once we get into Tianjin and Peiping, Isn’t it just that seven or eight currencies are listed together? However, is it too early to establish a unified national bank..." Zhou Enlai responded to the telegram according to Mao Zedong's advice.

Dong Biwu received the reply from the central government and immediately called Nan Hanchen He said: “It is a little early to establish a unified national bank, but we must not let down our preparations. The Working Committee has studied that starting from tomorrow, the sign of the Preparatory Office of the People's Bank of China will be displayed, and you will take the lead as the director of the Preparatory Office. ”

Nan Hanchen said: “The preparation work to be done now is to collect all unified currency issuance policies, collect the issuance index of each liberated area, and prepare sufficient issuance reserves. We also need to determine several types of banknotes, the amount and value content of various banknotes, design the banknote pattern, select the paper, etc... Since the central government and Chairman Mao agree with us, the unified bank is called the Chinese People's Bank of China Bank, then our currency is called 'RMB'. "

Dong Biwu nodded and said: "This name is very good, it illustrates the nature of our bank and our currency. Since it belongs to the people, it does not belong to a certain region or department, but must belong to the whole country and the people of the whole country! "

Nan Hanchen admired Dong Biwu's explanation very shrewdly, so he said: "When the time comes, you will have to write the words "People's Bank of China" on the banknotes. "

In late December 1947, the sign of the Preparatory Office of the People's Bank of China was hung in a small farmer's yard in Jiayu Village, one mile away from Xibaipo in Pingshan County.

In the autumn of 1948, the Preparatory Office moved to Shijiazhuang, just in time for the bombing by Kuomintang planes. The comrades of the Preparatory Office went to rescue the RMB and other spare materials that were rushing to be printed amidst the roar of shrapnel. Nan Hanchen took the lead in carrying and rescuing in the sea of ????fire, and no one paid attention.

Dong Biwu went to Nan Hanchen one day and said to him: "All the comrades in the Central Working Committee of the RMB banknote design you designed have seen it, and I sent a telegram a few days ago. Give it to Chairman Mao and tell him that the portrait of Chairman Mao is printed on the front of the ticket.

Today the chairman came back with a telegram saying that he did not agree to have his image printed on the ticket board. The chairman said that the tickets were issued by the government, not the party. I am currently the chairman of the party, not the chairman of the government, so my image cannot be printed on the ticket. I will wait until I become the chairman of the government in the future. Han Chen, take the ticket back and let them redesign it. ”

“So, what kind of pattern should be changed to the face of the ticket? "Nan Hanchen asked.

Dong Biwu thought for a while and said: "The RMB is the people's own currency and should mainly reflect the industrial and agricultural production of the people in the liberated areas. In addition, there is another point to pay special attention to. The RMB is the currency of New China.

We are an independent country. On the front and back of the ticket, except for the necessary Arabic numerals, all are in Chinese and cannot be mixed with English words like some currencies. ”

Nan Hanchen went back and told designers Wang Yijiu and Shen Naiyong to redesign the banknote according to Dong Biwu’s opinions, and also included the words “People’s Bank of China” written by Dong Biwu and the number of money. Bring it over.

The two designers quickly designed three types of stamps: Shiyuan, Twenty-Yuan, and Five-Yuan. All the patterns were of workers and farmers engaged in production. The front of the 20 Yuan: the left side shows the farmers' traffic, and the right side is the mine area; the 20 Yuan's front: the left side shows the farmers leading donkeys and carrying goods, and the right side shows the train running on the railway; the 50 Yuan's front: the left There is traffic on the side of the donkey well, and on the right is the coal cart of the coal mine. Even the later issued one hundred yuan, two hundred yuan, five hundred yuan, one thousand yuan, five thousand yuan, and one thousand yuan coupons also used this industrial and agricultural denomination. The production structure.

When the second set of RMB was issued in 1953, the famous painter Luo Gongliu was responsible for the design. At the beginning, they designed various designs based on the practice of printing Lenin's face on Soviet currency. The votes were all in the image of Chairman Mao. When Mao Zedong approved them, Zhou Enlai still proposed some revisions.

It turns out that during the great national unity in Wu Yuan Guan’s main scene, someone held up a portrait of Chairman Mao. Zhou Enlai instructed: Chairman Mao’s opinion was not to paint his portrait. There are still portraits here, and they should be changed to placards. On the Tiananmen Square in the main scene of the one-yuan coupon, there were originally red flags, lanterns and a portrait of Chairman Mao. Zhou Enlai also ordered that the portrait be removed.

In November 1948, after Siye liberated the entire Northeast, millions of troops marched into the pass and implemented a strategic siege of Tianjin and other places, encircling but not attacking, separating but not encircling. The revolutionary situation developed very rapidly. . Faced with this situation, Zhou Enlai called Nan Hanchen and asked him to mobilize all efforts to issue a national unified RMB, otherwise other measures would be taken.

According to Zhou Enlai's instructions, Dong Biwu presided over the second political affairs meeting of the North China People's Government on November 18. The central topic was: establishing the People's Bank of China and issuing a unified national currency. At the meeting, Dong Biwu once again asked Nan Hanchen cautiously: "Hanchen, time waits for no one! How are you doing with your preparatory work? Can you hang up the People's Bank of China sign tomorrow?"

< p>"I think it's OK. After more than a year of preparations, all work is in place. The 12 denominations of tickets have been approved by several leaders of the central government. If the sign of the People's Bank of China is put up tomorrow, tomorrow Then the banknotes can be issued. In order to prepare for our RMB to occupy the market immediately after the liberation of Peiping, our comrades from the Ministry of Urban Affairs have sent people to Peking with printing plates and negotiated with a printing factory there to secretly print out one on our behalf. Approval of banknotes. Once the People's Liberation Army enters the city, the RMB will be able to circulate in the market," Nan Hanchen said with confidence.

Dong Biwu made the decision immediately: "Okay, let's make a decision and immediately announce the establishment of the People's Bank of China!"

December 1, 1948, North China The People's Government posted a notice announcing the establishment of the People's Bank of China and the issuance of the national unified currency RMB. Comrade Nan Hanchen was appointed as the general manager of the People's Bank of China.

On this day, the first batch of RMB with a face value of five yuan was officially issued at the Bank of Pingshan County, Hebei Province; then, RMB with a face value of twenty yuan and ten yuan were issued in Shijiazhuang.

Note: The 2-yuan banknotes currently in circulation are being recycled one after another, and the cents have been discontinued.

RMB appreciation

1. Benefits of RMB appreciation:

(1) RMB appreciation may mean an improvement in the status of the RMB and the status of the Chinese economy in the world economy improvement.

1) The wealth in the hands of Chinese people is more valuable. Once the RMB appreciates, the money in the hands of people becomes more valuable, and China's global ranking of GDP per capita can also move forward.

2) The reduction of China’s foreign debt pressure and the enhancement of purchasing power, etc.

For example: Who is paying to maintain the daily operations of the US government, known as the "global boss"? The obvious answer is the taxpayers of the United States of America. This answer is not entirely correct. Because the current U.S. federal government has a huge fiscal deficit, taxpayers' contributions alone are not enough to cover the expenses, so it has to borrow heavily. And who is the biggest creditor? It's Japan and China. A large part of China's more than 300 billion US dollars in foreign exchange reserves is purchased from US government bonds.

China became one of the largest creditors of the world's most powerful empire. This fact itself shows China's growing economic power and international influence. Last year, China's contribution to global economic growth was second only to the United States; its contribution to global trade growth was second only to the United States and Japan. *The RMB, whose economic strength speaks for itself, will naturally gain a greater say in international affairs, which is a good thing.

3) It is conducive to the development of the import industry: Shao Jinyang, deputy director of Sinopec, said in an interview: "If the RMB appreciates, overseas assets will be cheaper for us." If the RMB appreciates by 5%, China Based on current prices, the cost of oil imported by Petrochemicals in 2003 will be reduced by more than US$100 million.

(2) The prospect of RMB appreciation is becoming increasingly clear.

This is because, just as the policy of artificially overestimating the value of the RMB before 1994 was forced to give up, artificially underestimating the value of the RMB is also unsustainable, because on the exchange rate issue, policy intervention, although it can temporarily role, but ultimately the market has the final say. As long as China can maintain high economic growth and promote the process of full convertibility of the RMB, it will not be far away that the RMB will appreciate and become a regional and even world currency.

There is currently insufficient evidence to show that China's economic growth will suddenly stop in the near future; China's monetary authorities have also repeatedly stated that the RMB will become fully convertible.

In fact, the RMB’s upward journey has already begun, starting from the sharp depreciation on January 1, 1994. This year, the official exchange rate of the RMB moved closer to the market exchange rate, from 1 U.S. dollar to 5.80 yuan in the previous year to 1 U.S. dollar to 8.70 yuan, a depreciation rate of 33%. From then to the end of last year, statistics from the State Administration of Foreign Exchange showed that the nominal appreciation rates of the RMB relative to the U.S. dollar, the euro (the German mark before 1999) and the Japanese yen were 5.1%, 17.9% and 17% respectively; taking into account currency Factoring in inflation, the actual appreciation was 18.5%, 39.4% and 62.9% respectively. The results of the International Monetary Fund's calculations also reflect the same trend.

Despite this, at present, trying to induce a substantial appreciation of the RMB does not meet the realistic conditions.

2: Disadvantages of RMB appreciation:

(1) Affected by RMB appreciation, China's economic growth will slow down. This is manifested in three aspects:

1) RMB appreciation will affect my country's foreign trade and exports. The appreciation of the RMB will increase the price of Chinese products and increase the cost of capital investment, which will reduce the competitiveness of my country's export products and trigger a sluggish domestic economy.

The appreciation of a country's currency will bring about a decrease in the competitiveness of the country's export products, thus triggering a sluggish domestic economy. On this issue, Japan has learned a bloody lesson. In 1985, in order to curb the frenzy of exporting cheap Japanese goods, the financial heads of the United States, France, Germany and the United Kingdom took corresponding measures and forced Japan to sign the "Plaza Accord", thereby forcing the yen to appreciate by 30%. Since then, in the 10 years from 1985 to 1996, the ratio of the yen to the US dollar has risen from 250:1 to 87:1, appreciating nearly three times. The "Plaza Accord" is recognized as the main culprit that triggered Japan's economic recession. Now Japan just wants to pass this tragedy onto China.

2) It will also affect the comprehensive competitiveness of our country's enterprises and many industries. Because although "Made in China" has become a major product in the world market, a fatal weakness of Chinese products is that they have not yet formed their own brands. The current market share mainly depends on the price of Chinese products. It is cheap and does not hold a dominant position in the competition. It would be terrible if the competitiveness is hit.

The biggest finding of this survey by "Chinese Entrepreneur" is that 82.4% of companies believe that changes in the RMB exchange rate will have an impact on their business activities. For companies operating on the Chinese economic stage, the RMB is like air and water.

For example: Huang Hongsheng, Chairman of the Board of Directors of Skyworth Group, the CEO of China’s largest color TV exporter, is worried about the prospect of appreciation. He believes that most of China’s exports are low-tech products, and high-tech products are very expensive. few. If the RMB appreciates, China's international status may improve, but the global competitiveness of its manufacturing industry will gradually lose. He calculated an account and found that if the RMB appreciated by 10%, it would be equivalent to a 10% increase in export prices. However, the profits of better domestic manufacturing companies in China were only about 5%. With some fiscal discounts, the average profit level of Chinese companies was also low. to 3%. How can an average profit margin of 3% regulate 10% appreciation pressure? There will definitely be widespread losses.

Huang Hongsheng took Skyworth as an example to outline the highest psychological bottom line for Chinese companies regarding the appreciation of the RMB: "Now it is difficult for us to make a big improvement in the U.S. market. The main reason is that the products of other world factories are not as good as ours." The prices are just as low. For example, color TVs from Mexico and products from Europe and Turkey are so cheap that we can’t even raise a dollar. We hope to increase sales by 30 million US dollars in the US market this year, but if the RMB appreciates, then this plan will not work. Aborted.”

Another example: Compared with manufacturing companies, those foreign trade companies at the forefront of exchange rate risks are the strongest perceivers of changes. For export-oriented enterprises, the volume of exports is much larger than that of imports. Therefore, Huang Hongsheng said that the appreciation of the RMB will cause a devastating blow.

Huang Fangning, assistant to the general manager of Oriental Scientific Instruments Import and Export Group, told reporters an example of losses caused by the appreciation of the euro, that is, the depreciation of the renminbi.

In early 2003, they had a transaction. When the contract was signed, the exchange rate between the euro and the U.S. dollar was still 1:0.9. By the time of delivery, it had risen to 1:1.1. They did not take measures to lock the exchange rate, so they lost money. "Even if we have 10% or 20% of the intermediate profits, it cannot offset the loss of appreciation. We can only make up for it ourselves."

Another example: some multinational companies that originally produced in China, Investments may be transferred to Mexico or Malaysia. In the 1980s, Taiwan also experienced the current pressure from China. After the exchange rate of the Taiwan dollar against the US dollar rose from 1:40 to 1:25, some traditional low value-added industries, They all moved to Dongguan. Similarly, some experts have analyzed that if the RMB appreciates, these traditional industries will be transferred from Dongguan to less developed regions such as Central Asia and Vietnam. Originally, there were still many areas in China, such as the west, that could accommodate these industries. However, because the currency adjustment is targeted at all enterprises, China may be forced to experience the process of industrial hollowing out early.

3) It will also undermine the long-term development of China's economy and bring our country's financial crisis closer and closer.

The appreciation industry may destroy the good investment environment that our country has worked hard to create over the years, new overseas investment will decrease, and the driving force for China's economic growth will be greatly reduced, because this kind of investment becomes relatively expensive. On the other hand, the speculative activities of international hot money may increase, bringing my country's financial sector closer and closer to the edge of crisis.

For example: From the Mexican financial crisis to the Asian financial crisis, it is obvious that the governments of these countries have adopted high-interest rate monetary policies to absorb domestic funds, but the effect is counterproductive. Due to the lack of internal funds, It also attracted a large amount of international hot capital inflows, causing deviations in capital flows and creating conflicts in the capital structure, laying the hidden danger of currency crises. At the same time, it also created the contradiction that foreign capital inflows pushed up the local currency exchange rate, triggering economic structural problems. Exposure, or the emergence of a bubble economy or economic downturn, and thus forced to implement the policy of currency depreciation, directly leads to transaction risks in the currency market and securities market, and ultimately triggers a financial crisis.

What is a financial crisis? This is like a family that was originally very poor, and a wealthy relative came to them.

It brought them a temporary "rich" life, so outsiders lent the family a huge amount of money because of their wealth. Unexpectedly, the rich relatives of this family suddenly disappeared, leaving the family with only a high debt, which led to the friends who borrowed the huge debt. Crisis arose all of a sudden.

It can be seen that if the RMB appreciates, it will lead to: due to weak internal funds, it will also attract a large amount

of international hot money inflows, causing deviations in the flow of funds and causing conflicts in the capital structure. , laying the hidden danger of a currency crisis

4) In addition, speculation will inevitably prevail after appreciation: due to the rapid increase in national wealth expressed in US dollars

the stock market and real estate Reaching a climax, some "bubbles" further inflate or create new "bubbles", and polarization continues to expand, leading to the inevitable prevalence of speculation.

For example: Many retail investors in the United States have opened RMB savings accounts locally, hoping that one day the changes in the RMB exchange rate system will benefit them. Of course, these retail accounts are not real RMB accounts, because under China's non-convertible exchange rate system, it is illegal to open RMB accounts overseas. They open savings accounts denominated in RMB, and the deposits in the accounts are in US dollars, but based on the spot exchange rate of RMB, these accounts will appreciate or depreciate due to fluctuations in the spot exchange rate of RMB against the US dollar. Everbank Chief Executive Frank Trotter said the company's move had a big impact among some customers. These customers have been asking for yuan-denominated accounts since the currency began to show signs of imbalance more than a year ago. Everbank launched the new accounts on July 1 and poured more than $6.5 million into them in the weeks that followed.

(5) In addition, the appreciation of the RMB has many disadvantages:

The appreciation of the RMB will put greater pressure on China’s deflation; an appreciation of the RMB will definitely reduce prices, because imports The price of the product will fall.

The appreciation of the RMB increases employment pressure and worsens the current employment situation: Foreign-invested enterprises are an important channel for attracting domestic labor, especially in the current situation. Therefore, the appreciation of the RMB at this time will not only affect the attraction of Foreign investment will also exacerbate the deterioration of the current employment situation.

The fiscal deficit will increase due to the appreciation of the RMB exchange rate, which will also affect the stability of monetary policy.

RMB appreciation will cause serious damage to China's advantageous industries. As a developing country, China has an advantage in labor costs. China's labor-intensive export products are easily restricted by anti-dumping measures, and the export situation is not optimistic. At this time, the appreciation of the RMB will make the current situation worse. Therefore, the appreciation of the RMB at this time will not only affect the attraction of foreign investment, but also aggravate the deterioration of the current employment situation.

Three: The world is once again focusing on the RMB in the face of global deflationary pressure.

Changes in exchange rates are closely related to domestic interest rate levels, money supply, national income levels, price levels and other factors. Whether a currency appreciates or depreciates should be left to the market. Politics does not have the final say.

However: Shojuro Shiokawa’s proposal is more like a political conspiracy. Holding a hundred yuan RMB in hand, if a child asks: How much is this worth? Then, this child must be too naive to learn how to use money. If Japanese Finance Minister Shojuro Shiokawa asked, how much is this worth? Then, this will cause a storm. The turmoil was caused by a proposal at the G7 Finance Ministers' meeting - Japan's request for RMB appreciation.

The recent discussion of whether the RMB should appreciate has become a topic of great concern internationally. First, the Japanese Finance Minister made a request at the meeting of the seven-nation finance ministers, and then the US Treasury Secretary Snow’s speech and the Asia-Europe Meeting held in Indonesia issued a statement, all calling for the appreciation of the RMB. Recently, the US “Sound Dollar Alliance” also proposed to pass "Section 301" prompted the RMB to appreciate, and Greenspan's speech made the world once again focus on the RMB in the face of global deflationary pressure. It can be said that the government and the people are united and working together to attack the RMB exchange rate issue. This dispute over the RMB exchange rate, instigated by Japan and starring the United States, is now in full swing, once again making China the center of world attention.

In fact, from the perspective of the Japanese, it is not unreasonable for Shojuro Shiokawa to raise this issue. First of all, Japan's economy has been at a low ebb. Why is China so unique? Japan has also contributed to China's uniqueness. Look, how many goods Japan has imported from you. Secondly, only when the RMB appreciates can the Japanese yen depreciate, so that Japanese exports can become competitive. China's economy has three major advantages: cheap labor, high technology and cheap currency. Among the three major factors, only the last one that Japan may interfere with is the RMB exchange rate. Japan even wanted to use the "negative" effects of RMB appreciation to prevent its own companies from investing in China. However, because in a market economy country, the government cannot intervene in the actions of companies, so they demanded that the RMB appreciate. They believe that this will raise the price of Chinese products and increase the cost of capital investment, making them unable to achieve their goals domestically by putting pressure on the RMB.

Forcing the RMB to appreciate is Japan’s strategic move to compete for dominance in the future “Asian Dollar”. In recent years, the discussion on the "Asian Yuan" issue has become more and more heated. Who can become the leader of the Asian Yuan in the future has become an increasingly sensitive topic. Japan's economy has been in a decade of sluggishness, making the yen less likely to become Asia's dominant currency. Due to its rapid economic growth, China has gradually become the "locomotive" of Asia's economic development and the "engine" of the world's economic development. Therefore, the value of the RMB has become increasingly obvious, and a "RMB zone" has begun to form in China's neighboring countries, leading Japan to Worried. In the context of Japan's $5 billion surplus with China in 2002, Japanese Finance Minister Shojuro Shiokawa proposed a proposal to ask the Group of Seven to pass "a document similar to the 'Plaza Accord' against the Japanese yen in 1985" to force the RMB to appreciate. The purpose of pushing the global clamor to suppress the appreciation of the renminbi to its peak is to defeat the challenge of the renminbi to the yen through the appreciation of the renminbi and ensure the yen's future dominance.

The motives of the United States and Europe seem to be more obvious, which is to weaken China's economic strength through the appreciation of the renminbi, thereby attacking China's international influence.

The dispute over the RMB exchange rate is still essentially a dispute over trade issues.

The reason why the United States puts pressure on the appreciation of the RMB is that the depreciation of the U.S. dollar only "greatly enhances the export competitiveness of Chinese companies and stimulates the export of Chinese products." Especially when the U.S. dollar depreciated in 2002, the U.S. foreign trade deficit hit a RMB 4,352 The historical peak of 100 million U.S. dollars, and the trade deficit with China reached 103.1 billion U.S. dollars. The United States hopes that through the appreciation of the RMB, it will hinder the large-scale entry of Chinese goods into the United States.

International pressure for appreciation is increasing. Although in the long run, with the development of China's economy, RMB appreciation is an inevitable trend, before China's real export advantage (brand) is formed, the nominal exchange rate of RMB should not be adjusted significantly; even if China faces huge international pressure, The exchange rate should be controlled in accordance with the needs of the country's economic development. Otherwise, like Japan and Germany, its good economic prospects will be ruined.

Why misprinted RMB is more valuable

The error rate in the printing process of RMB is very low, and even if there are quality defects, it is difficult to escape the quality inspection before leaving the factory. Therefore, such defective products are extremely rare in the circulation field. Some coin collectors who like to hunt for exotic coins like this kind of collection very much and are willing to pay a high price to acquire it, so it is more valuable.

But in essence, it is just a defective product caused by a quality accident. It is not of great significance in terms of collection, so most professional collectors are not very interested in it. On the contrary, some laymen, fueled by news media reports, paid huge prices to buy them, causing their prices to rise and become very eye-catching. This has also led to some counterfeiters playing tricks on ordinary coins and pretending to be "wrong coins" to cheat money. Therefore, it is best for laymen not to believe these scammers and not to spend money to buy it rashly.

What is RMB appreciation?

Answer: In the most popular terms, the appreciation of the RMB means that the purchasing power of the RMB has increased. In other words, you used to exchange one dollar for 8.27 yuan. Now it can only be exchanged for RMB 8.02.

I often see it on TV, why does the United States want to let the RMB appreciate? What does the appreciation of the RMB mean to other countries?

Answer: Because the appreciation of the RMB will inhibit my country’s exports. Our country's main export target is the United States. In the past few years, the United States has been running a trade deficit. Appreciation will slow this down.

Relatively speaking, the increase in the value of our currency will stimulate foreign imports into our country.

What are RMB asset concept stocks? What stocks are in this category?

Real estate stocks and bank stocks are typical RMB asset concept stocks. RMB asset concept stocks, to put it simply, are Financial stocks, including many financial stocks, here mainly refer to banking and real estate stocks

The impact of RMB appreciation on our economy

China should adjust its industrial structure by increasing environmental costs and abandon short-sighted thinking Development strategy,

For more than 20 years, my country's traditional mercantilist development model has had mixed benefits and disadvantages. In the process of this import and export trade exchange, China's economic capital has increased significantly, but its natural capital has suffered heavy losses. At present, several ecologically dangerous areas have been formed across the country, such as the South-to-North Water Diversion Project. The shortage of water resources in North China has become a foregone conclusion, and my country has to adjust resource allocation through water conservancy projects that cost hundreds of billions of yuan. The black soil in the three northeastern provinces is a layer of surface black soil formed after hundreds of millions of years of vegetation decay. In the world, only Ukraine and the central United States have one layer each. However, after devastating development in recent decades, my country's black soil has suffered serious soil erosion. If we do not increase the cost of ecological protection in this area and blindly pursue cheap food production and export, this black land will expose its rocks in a few decades. The production of wool and cashmere products in my country also bears an unshirkable responsibility for the desertification in the northwest region. The ecological deterioration in the northwest region is becoming more and more serious.

As for the cost of controlling environmental pollution, it is even more huge. The annual investment of one to two hundred billion yuan in governance has largely offset the results of economic development. In summary, when environmental costs are included in cost accounting, China's trade costs are huge. In terms of comparative advantage, many of my country's export products are produced under a comparative disadvantage. In order to export more cheaply, they do not hesitate to destroy and pollute the ecological environment.

It is urgent to increase China's environmental costs. The country must formulate a series of legal protection measures, such as not implementing export tax rebates for certain products, reducing the export competitiveness of these products through tax policies, and increasing this environmental costs of products.

At present, our country must carefully examine the true costs of some export industries, such as silk, leather, agricultural products, etc., and recover the missed environmental costs. Rationally utilize international resources through tariff adjustment. Through comparative advantage, we can eliminate China's uncompetitive products and eliminate those export products that make a profit at a loss, and finally achieve the purpose of adjusting the industrial structure. This may affect the interests of some regions and departments on the surface and over time. , but in line with the long-term survival and development of the Chinese nation.

In general, my country has not yet gotten rid of the export characteristics of developing countries, that is, relying on resources in exchange for technology and service products. The characteristic of this trade is that for developing countries, it is a mountain-moving export. At present, my country's exports of marble, cement, pig iron, etc. have ranked among the best in the world. Another characteristic of this kind of trade is that there is price inequality between primary products and industrial products. Primary product countries have to use more labor and resources in exchange for the products they need. If developing countries cannot reverse this trade structure in time, the final result will be resource depletion and trade will be unable to continue. At present, this resource-based export has put some African countries into an unsustainable situation. In recent years, the proportion of my country's industrial product exports has been increasing, and the proportion of processing trade has become larger. However, we must also pay attention to the costs in terms of environment and resources.

2. Comparison of ancient and modern mercantilism---