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China Yuan Banknotes
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The information of this country.
China is a country that lies within East Asia. China is the most populous country globally with 1.4 billion people. Also the third largest country with 3,705,457 square miles. The capital of China is Beijing and Shanghai is the biggest city. The official language in China is Standard Chinese or simply called Mandarin. China also was considered one of the first civilizations of the world. Renminbi is China’s recognized currency.
The history of the Renminbi.
China is well known as the first country that established paper banknotes. Many currencies were in circulation in China’s history. Most of them were titled in the unit Yuán. Due to the hyperinflation occurring by the Kuomintang (1928-1949). It soon collapsed, then the new government was established by the People's Bank of China and their main issue was to cease the hyperinflation. This led to the introduction of a new currency called Renminbi in December 1948 with the code is CNY.
The renminbi was introduced in only a banknote series, including ¥1, ¥5, ¥10, ¥20, ¥50, ¥100, and ¥1 000 yuan on December 1, 1948. Followed by ¥200, ¥500, ¥5 000, and ¥10 000 yuan notes in 1950. There are a total of 62 different styles of banknotes. These are written “People’s Bank of China” and “Republic of China” by Dong Biwu.
The second series was issued on 1 March 1955. Similar to the previous notes, these also were printed with “People’s Bank of China” but in various languages. This banknote denomination included ¥0.01, ¥0.02, ¥0.05, ¥0.1, ¥0.2, ¥0.5, ¥1, ¥2, ¥3, ¥5, ¥10. Likewise, ¥0.01 to ¥ 0.5 were rarely in use. However, this banknote gained high value for collectors.
The third series was issued on 15 April 1962 with the identical denomination and also the order of colors for each denomination to the previous one. However, the size and features on these banknotes had developed differently with more decorations about humanity and life. The second and third banknote denominations were used at the same time. But it stopped printing during the 1990s and was in circulation again a decade later.
The latest banknote series was issued in 1990. These banknotes were from ¥1 to ¥100 except ¥2 and featured a portrait of Mao Zedong-the chairman of the Chinese Communist Party on the facade, likewise, other designs were still kept. However, security features were added to prevent counterfeit.
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