Extended data:
The basic information of RMB mainly includes the following five aspects:
1. Definition: RMB refers to the currency first issued on 1948 12 1 after the People's Bank of China was established. After the establishment of People's Republic of China (PRC), it is the legal tender of People's Republic of China (PRC).
2. Management: The People's Bank of China is the national competent authority for RMB management, responsible for the design, printing and distribution of RMB.
3. Currency: Since its establishment, the People's Bank of China has issued five sets of RMB at 1948 12 1, forming a multi-variety and multi-series currency system including paper money and metal coins, ordinary commemorative coins and precious metal commemorative coins.
4. Abbreviation: RMB is abbreviated as (China Dollar) in ISO 42 17, but the more commonly used abbreviation is RMB (Ren Min Dollar); The symbol of RMB is "RMB".
5. Material: RMB is divided into metal coins (also known as coins) and paper money (also known as paper money) according to the natural properties of materials. Both paper money and coins are in equal circulation.
What is the basic content of the RMB system?
1 Currency in circulation: RMB is the functional currency and the only currency in legal circulation.
2 RMB monetary materials
3 RMB monetary unit: RMB.
Legal payment and repayment ability of RMB: No matter whether it is the main currency or the sub-currency, it can be compensated infinitely by law.
5 Circulation procedures for RMB issuance: Only RMB banks in China can issue RMB.
The issuance of RMB is mainly realized through the management of currency issuance funds and business libraries.
The cash in the issuing warehouse is put on the market in RMB.
The People's Bank of China deposits cash in commercial banks.
6 RMB issuance preparation system: certain gold and foreign exchange reserves are issued as RMB.
Main contents of the current RMB exchange rate system
China implements a managed floating exchange rate system based on market supply and demand with reference to a basket of currencies.
Formation, announcement and adjustment of RMB exchange rate. From 65438+65438+ 10 in 0994, RMB exchange rate is a single and managed floating exchange rate system based on market supply and demand.