Economy of the People's Republic of China

:The economies of Hong Kong and Macau are separate from the rest of the People's Republic of China. This article is on the economy of mainland China. See also: Economy of Hong Kong and Economy of Macau

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Currency

Currency: 1 yuan = 10 jiao = 100 fen (see also: Renminbi)

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Exchange rates: yuan per US$1 - Starting July 21, 2005 China has allowed the Renminbi to fluctuate at a daily rate of up to .03% with a maxim fluctaution rate of 2% per year. The current rate of exchange is approximately 8.0-8.01 RMB per US $1. 8.2793 (January 2000), 8.2783 (1999), 8.2790 (1998), 8.2898 (1997), 8.3142 (1996), 8.3514 (1995)

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note:

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Beginning 1 January 1994, the People's Bank of China quotes the midpoint rate against the US dollar based on the previous day's prevailing rate in the interbank foreign exchange market.

Related Topics:
1 January - 1994 - People's Bank of China - US dollar - Interbank foreign exchange market

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Hong Kong and Macao

In accordance with the One Country, Two Systems policy the economies of the former colonies, Hong Kong and Macao, are separate from the rest of the PRC, and each other. Both Hong Kong and Macau are free to conduct and engage in economic negotiations with foreign countries, as well as participating as full members in various economical international organizations such as the World Customs Organization, the World Trade Organization and the Asia-Pacific Economic Cooperation forum, often under the names "Hong Kong, China" and "Macau, China".

Related Topics:
One Country, Two Systems - World Customs Organization - World Trade Organization - Asia-Pacific Economic Cooperation

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See the articles Economy of Hong Kong and Economy of Macau for more details.

Related Topics:
Economy of Hong Kong - Economy of Macau

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