The fourth set of RMB has some innovations and breakthroughs in design concept, style and printing technology. The main landscape pattern embodies the theme of the Communist Party of China (CPC) leading China to build a Socialism with Chinese characteristics. In terms of design style, this set of RMB keeps and develops the traditional features of China national art. The pattern on the back of the main currency is based on China's scenic spots and historical sites, famous mountains and rivers, and the back decoration is decorated with patterns rich in China's national characteristics. In the printing process, the main scene is all watermarked by large portraits, and the carving process is complicated; Banknote paper adopts full-page watermark and fixed portrait watermark respectively, which not only shows the line picture, but also shows the light and dark level. The technology is very high, which further improves the printing technology level and anti-counterfeiting ability of banknotes in China.
the fifth set of rmb
1 99965438+1 October 1, the People's Bank of China successively issued the fifth set of RMB, * * with eight kinds of RMB:1,50,1yuan, 5 yuan, 10 and 20 yuan. According to the needs of market circulation, the fifth set of RMB increased the denomination of 20 yuan and cancelled the denomination of 2 yuan, making the denomination structure more reasonable.
The fifth set of RMB inherits the traditional experience of printing technology in China and draws lessons from the advanced technology of foreign banknote design, which greatly improves the anti-counterfeiting performance and adapts to the modernization of currency processing. The front of each denomination currency adopts the head of President Mao Zedong in the early days of the founding of the People's Republic of China, and the background adopts the famous flower patterns of China. The main landscape patterns on the back fully show the long history and magnificent mountains and rivers of China and promote the great culture of the Chinese nation by selecting representative patterns with national characteristics.
Ordinary commemorative coin
Ordinary commemorative coins are limited-edition RMB with a specific theme. The People's Bank of China issued the first set of 65,438 to 0,984 ordinary commemorative coins, and has issued 63 sets of 75 ordinary commemorative coins, with a total circulation of about 850 million. These commemorative coins are rich in themes, unique in design, diverse in specifications and materials, novel and beautiful in design, with denominations ranging from 1, 1 yuan, 5 yuan, 10, 50 yuan, and 100, which condense the brilliant achievements and major historical events of the people of China for more than 50 years into a square inch commemorative coin. These commemorative coins are an important part of the RMB series, enriching and perfecting China's monetary system, carrying forward China's monetary culture, and constantly exploring and innovating, which has played a positive role in promoting commodity circulation and economic development and expanding foreign exchanges.
other
Legal tender issued by the People's Bank of China. In yuan (circle). 1948 12 1 released. Take ￥ as the code, and take the first letter of the Chinese phonetic alphabet Yuan, two lines. After the issuance, the local currency issued by the liberated areas was recovered one after another, and all of them were recovered in April of 195 1. Subsequently, all kinds of currencies issued by the Kuomintang government were eliminated by the exchange method. In order to establish an independent and unified RMB market, the state stipulates that gold, silver and foreign currencies are prohibited from circulating in the market. After controlling the persistent inflation since War of Resistance against Japanese Aggression, in order to maintain the long-term stability of the RMB value and eliminate the remnants of inflation, the state began to issue new RMB from 1 March 953 1, which was converted into1depreciation of SGD 10000, and prices, wages and all debts were also converted into this. The denominations of RMB tickets are 100 yuan, 50 yuan, 10 yuan, 5 yuan, 2 yuan, 1 yuan, 50 cents, 20 cents, 1 yuan, 50 cents and 0 cents respectively. Foreign exchange certificates are negotiable instruments with the equivalent value of RMB within the specified range, and stopped circulating on July 1995+0.
1947 65438+ On February 2nd, I sat on a heatable kang in a peasant cave in northern Shaanxi and received a telegram from Dong of the Central Working Committee: "I have sent Nan to Bohai Sea to discuss with Zhang and Deng the specific measures for setting up a bank. The name of the bank is proposed as China People's Bank. If it is possible, please consider showing compliance. I hope the name will be decided early, and it will be used when printing money. Committee has agreed to ... "Mao Zedong read it and handed it to Zhou Enlai sitting across the table.
Zhou Enlai said after reading it: "The opinion of South Chen Han is that it is imperative to establish a unified national bank and currency." Mao Zedong said with a smile, "It's a bit like Eight-Nation Alliance going to Beijing. We use border coins in Shanxi-Chahar-Hebei, Shanxi-Hebei-Shandong-Henan-Hebei, Shandong-Beihai, Northeast China and Northwest China. Once in Tianjin and Beiping, seven or eight currencies will be listed together! However, it is too early to set up a national unified bank ... "Zhou Enlai replied to the telegram according to Mao Zedong's opinion.
After receiving the reply from the Central Committee, Dong immediately called and said: "It is too early to set up a national unified bank, but the preparations cannot be relaxed. The Working Committee has studied that starting from tomorrow, the brand of the preparatory office of the People's Bank of China will be hanged, and you will take the lead as the director of the preparatory office. "
Nan said: "The preparatory work to be done now includes collecting all the unified currency issuance policies, collecting the issuance indicators of the liberated areas, and preparing enough issuance reserves. We also need to determine several denominations, the amount and value content of each denomination, as well as the design of printed version patterns, paper selection, etc ... Since the Central Committee and Chairman Mao agreed with us that the unified bank is called China People's Bank, then our currency is called' RMB'. "
Dong nodded and said, "This name is very good, which explains the nature of our bank and our currency. Since it belongs to the people, it is not a certain region or department, but must belong to the country and the people of the whole country! "
Nan appreciates Dong's explanation very much. He was shrewd and thorough, so he said, "At that time, you will write the words People's Bank of China on the banknotes."
1947 65438+In late February, the sign of the preparatory office of the People's Bank of China was hung in the yard of a small farmer in Jiayu Village, one mile away from Xibaipo, Pingshan County.
/kloc-in the autumn of 0/948, the preparatory office moved to Shijiazhuang, just in time for the bombing by Kuomintang planes. The comrades in the preparatory office rushed to rescue the printed spare materials such as RMB in the roar of shrapnel, and Nan took the lead in handling and rescuing in the sea of fire. Nobody takes care of personal safety.
One day, Dong found out and said, "The comrades of the Central Working Committee have seen all the RMB samples you designed. I telegraphed Chairman Mao the other day and told him that the front of the ticket was printed with a portrait of Chairman Mao.
The chairman telegraphed back today and refused to print his image on the ticket board. The chairman said that the tickets were issued by the government, not by the party. I am now the chairman of the party, not the government, so I can't print it on the ticket. Let's talk about it when I become the chairman of the government in the future. Chen Han, take the tickets back and have them redesign. "
"Then, what kind of design should I change into on the ticket face?" South Chen Han asked.
Dong thought about it and said, "RMB is the people's own currency, which should mainly reflect the industrial and agricultural production of the people in the liberated areas." In addition, it should be noted that RMB is the currency of New China.
We are an independent country. Except for the necessary Arabic numerals, all tickets are written in Chinese, and English characters cannot be mixed like some currencies. "
Nan went back and told designers Wang Yijiu and Shen Naiyong that the paper money had been redesigned according to Dong's opinion, and brought some words written by Dong, "China People's Bank" and the amount of money.
The two designers quickly designed three kinds of ticket boards: ten yuan, twenty yuan and five yuan. All the patterns are made by workers and farmers. The front of the change: on the left is the farmer's car water, and on the right is the mining institute; The positive side of the change: on the left, farmers pull donkeys to transport goods, and on the right, trains running on the railway; The front of samurai yuan: the water in the donkey well on the left and the coal car in the coal mine on the right. Even the denominations of 100 yuan, 200 yuan, 500 yuan, 1000 yuan, 5,000 yuan, and 10000 yuan were issued later, which still followed the structure of industrial and agricultural production.
When the second set of RMB was released in 1953, it was designed by the famous painter Luo. At the beginning, they referred to the practice of printing Lenin's head with Soviet currency, and all kinds of ticket plates designed were also portraits of Chairman Mao. Mao Zedong approved it and rejected it. When he was submitted to trial for the second time, Zhou Enlai still put forward some amendments.
It turned out that in the great national unity of Wuyuan Voucher, some people held high the portrait of Chairman Mao, and Zhou Enlai instructed: Chairman Mao's opinions should not be painted with his portrait, and there are still portraits here, so they should be changed into placards. In Tiananmen Square, there used to be a red flag, colored lights and a portrait of Chairman Mao as the main scene of the one-yuan coupon. Zhou Enlai also instructed the portrait to be taken down.
1948 165438+ in October, after the four fields liberated the whole northeast, all the millions of troops entered the customs and strategically surrounded Tianjin and other places, and the revolutionary situation developed very rapidly. Faced with this situation, Zhou Enlai called Yugoslavia and asked him to mobilize all his strength to issue a unified national RMB, otherwise other measures would be taken.
According to the instructions of, Dong presided over the second government affairs meeting of the People's Government of North China on June 5438+0 18 10. The central topic was to establish the People's Bank of China and issue a unified national currency. At the meeting, Dong once again carefully asked Nan, "Chen Han, time and tide wait for no man! How are you getting ready? Can you hang up the brand of China People's Bank tomorrow? "
"I think so. After more than a year of preparation, all the work is ready. The ticket version of 12 denomination has been recognized by several central leaders. If the brand of China People's Bank is put up tomorrow, paper money can be issued tomorrow. In order to prepare our RMB to occupy the market immediately after the liberation of Beiping, comrades of the Ministry of Industry of our city have sent people to Beiping with printing plates to negotiate with a printing factory there and secretly printed a batch of banknotes for us. As soon as the People's Liberation Army enters the city, the RMB can be circulated in the market. " South Chen Han is full of confidence, he said.
Dong made a decision at this moment: "OK, then let's settle down and announce the establishment of China People's Bank immediately!"
1948 12 1 The People's Government of North China posted an announcement announcing the establishment of the People's Bank of China and issuing the national unified currency RMB. Comrade Nan 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 in Pingshan County Bank, Hebei Province. Then, 20 yuan and 10 yuan RMB were issued in Shijiazhuang.
Note: 2 yuan banknotes in circulation are being recycled one after another, and pennies have ceased to be used.
appreciation of the RMB
First, the benefits of RMB appreciation:
(1) The appreciation of RMB may mean the improvement of RMB status and the promotion of China's economy in the world economy.
1) The wealth in the hands of ordinary people in China is more valuable. With the appreciation of RMB, the money in the hands of ordinary people is more valuable, and the global ranking of China's per capita GDP can also move forward.
2) The reduction of China's foreign debt pressure and the enhancement of its purchasing power.
For example, who is paying for the daily operation of the US government, which is known as the "global boss"? The natural answer is American taxpayers. This answer is not entirely correct. Because the current US federal government has a huge fiscal deficit, it is not enough to rely solely on the contribution of taxpayers, so it has to borrow a lot. Who is the biggest creditor? It's Japan and China. China's foreign exchange reserves exceed $300 billion, a large part of which is purchased from US Treasury bonds.
China became one of the biggest creditors of the most powerful empire in the world. This fact itself shows China's growing economic strength and international influence. Last year, China's contribution to global economic growth was second only to that of the United States; Its contribution to global trade growth is second only to that of the United States and Japan. * It is a good thing that the RMB, whose economic strength speaks, naturally gains a greater voice in international affairs.
3) Conducive to the development of the import industry: Shao Jinyang, deputy general manager of China Petrochemical, said in an interview: "If the RMB appreciates, overseas assets will be cheaper for us." If RMB appreciates by 5%, the cost of China Petrochemical's oil import in 2003 will be reduced by more than $654.38 billion at current prices.
(2) The prospect of RMB appreciation is becoming clearer and clearer.
This is because, just as the policy of artificially overvaluing the value of RMB before 1994 was forced to give up, artificially underestimating the value of RMB is also unsustainable, because on the exchange rate issue, although policy intervention can play a temporary role, the market has the final say. As long as China can maintain a high economic growth and promote the full convertibility of RMB, it will not be too long before RMB appreciates and becomes a regional and even world currency. At present, there is not enough evidence to show that China's economic growth will suddenly stop in the near future; China's monetary authorities have repeatedly stated that RMB will be fully convertible.
In fact, the rising journey of RMB has already started, starting with the sharp depreciation 1 994 65438+1October1 In this year, the official exchange rate of RMB converged with the market exchange rate, from 1 USD to 5.80 RMB in the previous year to 1 USD to 8.70 RMB, with a depreciation rate of 33%. From then until the end of last year, according to the statistics of the State Administration of Foreign Exchange, the nominal appreciation of RMB against the US dollar, the euro (before 1999 was the German mark) and the Japanese yen was 5. 1%, 17.9% and 17% respectively. Considering inflation, the actual appreciation ranges are 18.5%, 39.4% and 62.9% respectively. The calculation results of the International Monetary Fund also reflect the same trend.
Even so, at present, it is not realistic to try to induce a sharp appreciation of the renminbi.
Second, the disadvantages of RMB appreciation:
(1) Affected by the appreciation of RMB, China's economic growth will slow down. It is manifested in three aspects:
1) RMB appreciation will affect China's foreign trade and exports. The appreciation of RMB will increase the price of China products, increase the cost of capital investment, and reduce the competitiveness of China's export products, thus causing domestic economic depression.
The appreciation of a country's currency brings about the decline in the competitiveness of its export products, which leads to the depression of its domestic economy. Japan has learned a bloody lesson on this issue. 1985, in order to curb the export frenzy of cheap Japanese goods, the financial leaders of the United States, France, Germany and Britain took corresponding measures to force Japan to sign the Plaza Agreement, thus forcing the yen to appreciate by 30%. Since then, from 1985 ~ 196 to 10, the ratio of Japanese yen to US dollar has risen from 250: 1 to 87: 1, with an appreciation of nearly three times. "Plaza Agreement" is generally acknowledged as the chief culprit of Japan's economic recession. Now the Japanese want to pass this tragedy on to China.
2) It will also affect the comprehensive competitiveness of China enterprises and many industries. Because despite "China"
"Made in China" has become the main product in the world market, but a fatal weakness of China products is that they have not yet formed their own brands. At present, their market share is mainly due to the low price of China products, and they are not in an advantageous position in the competition. It would be terrible if their competitiveness was hit.
The biggest discovery of this survey by China Entrepreneur is that 82.4% of enterprises believe that the change of RMB exchange rate will have an impact on their business activities. For enterprises active in China's economic arena, RMB is like air and water.
For example, Huang Hongsheng, chairman of Skyworth Group, the owner of a large color TV exporter in China, is worried about the prospect of RMB appreciation. He believes that most of China's exports are low-tech products and few are high-tech products. If RMB appreciates, China's international status may be improved, but the global competitiveness of manufacturing industry will gradually lose. He calculated an account. If RMB appreciates by 10%, it means that the export price has increased by 10%, while the profit of domestic manufacturing enterprises in China is only about 5%. Together with some financial interest subsidies, the average profit level of Chinese enterprises is less than 3%. How does the average profit rate of 3% adjust the appreciation pressure of 10%? There is bound to be a large-scale loss.
Taking Skyworth as an example, Huang Hongsheng outlined the highest psychological bottom line for China enterprises to appreciate RMB: "It is difficult for us to make a big improvement in the American market now, largely because the prices of products from other world factories are as low as ours. For example, Mexican color TV sets, European and Turkish products are very cheap, and we can't raise a dollar. We hope to increase sales of 30 million US dollars in the US market this year, but if the RMB appreciates, then this plan will be aborted. "
For another example, compared with manufacturing enterprises, those foreign trade enterprises that are at the forefront of exchange rate risk have the strongest perception of change. For export-oriented enterprises, the export volume is far greater than the import volume. Therefore, Huang Hongsheng said that the appreciation of the RMB will cause a devastating blow.
Huang Fangning, assistant general manager of Oriental Scientific Instruments Import and Export Group, told the reporter an example of losses caused by the appreciation of the euro-that is, the depreciation of the RMB. In early 2003, they reached an agreement. When signing the contract, the exchange rate between the euro and the US dollar was still 1:0.9. It rose to 1: 1. 1 at the time of delivery. They didn't do anything to lock the exchange rate, so they lost money. "Even if we have an intermediate profit of 10% and 20%, it is not worth the loss of appreciation. I can only make it up by myself. "
For another example, some multinational companies that used to produce in China may transfer their investments to Mexico or Malaysia. In the1980s, Taiwan Province Province also experienced the current pressure from China. After the exchange rate of Taiwan dollar rose from 1:40 to 1:25, some traditional low value-added industries moved to Dongguan. Similarly, some experts have analyzed that if the RMB appreciates, these traditional industries will be transferred from Dongguan to less developed areas such as Central Asia and Vietnam. Originally, there were many areas in China, such as the west, which could accommodate these industries. However, because the currency adjustment is aimed at all enterprises, China may be forced to experience the process of industrial hollowing out ahead of schedule.
3) It will also undermine the long-term development of China's economy and bring China's finance to the brink of crisis.
The edge is getting closer. The appreciation industry may destroy the good investment environment that China has worked hard to create for many years, and the new overseas investment will be reduced, which will greatly reduce the driving force of China's economic growth, because such investment will become relatively expensive. On the other hand, the speculation of international hot money may increase, which makes China's finance more and more close to the edge of the crisis.
For example, from the Mexican financial crisis to the Asian financial crisis, it is obvious that the governments of these countries have adopted monetary policies with high interest rates to absorb domestic funds, but the effect is counterproductive. Due to the lack of internal funds, it attracted a large number of international hot money inflows, which led to the deviation of capital flow and the contradiction of capital structure, laying a hidden danger of currency crisis; At the same time, the contradiction of foreign capital inflow pushing up the exchange rate of the local currency leads to the exposure of economic structural problems, or the bubble economy or economic downturn, which forces the implementation of the policy of depreciation of the local currency, directly leads to the transaction risk in the money market and the securities market, and finally leads to the financial crisis.
What is the financial crisis? It's like a poor family with a rich relative.
It brought them a temporary "rich" life, so outsiders lent it huge amounts of money because of the family's wealth. Unexpectedly, the rich relatives of this family suddenly disappeared, leaving this family with only high debts, which led to a friend borrowing huge debts. At that time, there were many dangers.
It can be seen that if the RMB appreciates, it will lead to: due to insufficient internal funds, it will attract a lot.
The inflow of international hot money has caused the deviation of capital flow, formed the contradiction of capital structure and buried the hidden danger of currency crisis.
4) Also, the appreciation will inevitably lead to the prevalence of speculation: because of the dollar-denominated countries
People's wealth has increased rapidly, the stock market and real estate have reached a climax, some "bubbles" have further expanded or created new "bubbles", and polarization has continued to expand, leading to the inevitable prevalence of speculation.
For example, many retail investors in the United States have opened RMB savings accounts in the local area, hoping that one day changes in the RMB exchange rate system will benefit them. Of course, these retail accounts are not real RMB accounts, because according to China's non-convertible exchange rate system, it is illegal to open RMB accounts abroad. They open RMB savings accounts. The deposits in the accounts are USD, but based on the spot exchange rate of RMB, these accounts will appreciate or depreciate due to the fluctuation of the spot exchange rate of RMB against USD. Frank Trotter, CEO of Everbank, said that the company's actions had a great response among some customers. Since the RMB exchange rate began to show signs of imbalance more than a year ago, these customers have been asking for RMB-denominated accounts. Everbank launched the new account on July 1 and injected more than 6.5 million dollars into the account in the following weeks.
(5) In addition, there are many disadvantages of RMB appreciation:
The appreciation of RMB will bring greater pressure to China's deflation; The appreciation of RMB will definitely lower the price, because the price of imported goods will fall.
The appreciation of RMB will increase employment pressure and worsen the current employment situation: foreign-invested enterprises are an important channel to attract domestic labor, especially now, so the appreciation of RMB will not only affect attracting foreign investment, but also aggravate the current employment situation.
The fiscal deficit will increase due to the appreciation of RMB exchange rate, and it will also affect the stability of monetary policy.
The appreciation of RMB will cause serious damage to China's advantageous industries. As a developing country, China has the advantage of labor cost. China's labor-intensive export products are easily restricted by anti-dumping measures, and the export situation is not optimistic. At this time, RMB appreciation will worsen the current situation, so RMB appreciation at this time will not only affect attracting foreign investment, but also aggravate the deterioration of the current employment situation.
Third, in the face of global deflationary pressure, the world once again focuses on the RMB.
The change of exchange rate is closely related to domestic interest rate level, money supply, national income level and price level. Whether a currency appreciates or depreciates should be decided by the market, not politics.
However, Masajuro Shiokawa's proposal is more like a political conspiracy. Holding a RMB of 100 yuan, if a child asks: How much is this worth? Then, the child must be too naive to learn to use money. If Japanese Finance Minister Masajuro Shiokawa asks, how much is this worth? Then, this will cause a storm And this storm is a proposal made at the meeting of finance ministers of the Group of Seven-Japan's demand for RMB appreciation.
Recently, the discussion about whether the RMB should appreciate has become a topic of great concern all over the world. First, Japanese Finance Minister made a request at the meeting of finance ministers of seven countries, and then US Treasury Secretary Si Nuo's speech and the statement of the Asia-Europe Meeting held in Indonesia called for RMB appreciation. Recently, the US "Acoustic Dollar Alliance" proposed to promote RMB appreciation through "30 1 clause". Greenspan's speech made the world focus on RMB again under the pressure of global deflation. It can be said that the government and the people joined hands to attack the RMB exchange rate issue. This dispute over RMB exchange rate, which was provoked by Japan and starred by the United States, was staged in an all-round way, once again making China the center of world attention.
In fact, from the standpoint of the Japanese, it is not unreasonable for Masajuro Shiokawa to raise this issue. First of all, the Japanese economy has been at a low ebb. Why do you stand out in China? China outshines others, and we Japanese also contribute. Look, how many goods Japan has imported from you. Secondly, only when the renminbi appreciates can the yen depreciate, so that Japanese exports can be competitive. China's economy has three advantages: cheap labor, high technology level and cheap currency. Among these three factors, the only one that Japan may intervene is the RMB exchange rate. Japan even wants to use the "negative" of RMB appreciation to prevent domestic enterprises from investing in China, but in market economy countries, the government cannot interfere with the behavior of enterprises, so it requires RMB appreciation. In their view, this can raise the price of China products and increase the cost of capital investment, so that they can't achieve their goals by exerting pressure on the RMB at home.
Forcing the RMB to appreciate is a strategic measure for Japan to compete for the hegemony of the Asian dollar in the future. In recent years, the discussion about "Asian dollar" has become more and more hot, and who can become the leader of Asian dollar in the future has become an increasingly sensitive topic. As Japan's economy has been in recession for ten years, it is less and less likely that the yen will become the dominant currency in Asia. However, due to the rapid economic growth, China has gradually become the "locomotive" of Asian economic development and the "engine" of world economic development, so the value of RMB has become increasingly obvious, and countries around China have begun to form a "RMB zone", which has aroused Japanese anxiety. Against the background of Japan's surplus of $5 billion with China in 2002, Japanese Finance Minister Masajuro Shiokawa proposed a motion to ask the G-7 to adopt "a document similar to the 1985 agreement on the Yen Plaza" to force the appreciation of the RMB, so as to push the global voice of suppressing the appreciation of the RMB to the peak, with the aim of defeating the challenge of the RMB to the yen through the appreciation of the RMB and ensuring the dominant position of the yen in the future.
The motive of the United States and Europe seems to be more obvious, that is, weakening China's economic strength through RMB appreciation, thus hitting China's international influence.
The dispute over RMB exchange rate is essentially a dispute over trade issues. The reason why the United States pressured RMB to appreciate is that the depreciation of the US dollar only "greatly enhanced the export competitiveness of China enterprises and stimulated the export of China products". Especially in 2002, the US dollar depreciated, and the US foreign trade deficit reached a historical peak of US$ 435.2 billion, and the trade deficit with China reached US$ 103 1 billion. The United States hopes to prevent China goods from entering the United States on a large scale through RMB appreciation.
There is increasing international pressure for RMB appreciation. Although in the long run, with the development of China's economy, RMB appreciation is an inevitable trend, the nominal exchange rate of RMB should not be greatly adjusted before China's real export advantage (brand) is formed; Even in the face of enormous international pressure, China should control its exchange rate according to the needs of its own economic development, otherwise it will ruin its excellent economic prospects like Japan and Germany.
Why is the misprinted RMB more valuable?
The error rate in the printing process of RMB is very low, 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 curious coin collectors like this kind of collection very much and are willing to pay a high price, so it is more valuable.
But in essence, it is only defective products caused by quality accidents, which has little significance in collection, so most professional collectors are not very interested in it. On the contrary, some amateurs bought it at a high price with the help of news media reports, which made its price rise and attracted people's attention. This has also led some counterfeiters to forge ordinary coins and pretend to be "wrong coins" to cheat money. Therefore, it is best for laymen not to believe these swindlers and not to spend money rashly.
What is RMB appreciation?
A: In the most popular words, the appreciation of RMB means the enhancement of purchasing power of RMB. In other words, you used to exchange 1 USD for 8.27 RMB. Now it can only be changed to 8.02 yuan.
I often see on TV, why does the United States want to let the RMB appreciate? What is the significance of RMB appreciation to other countries?
A: Because the appreciation of RMB will restrain China's exports. China's main export target is the United States. In recent years, the United States has experienced a trade deficit. Appreciation will slow down this process.
Relatively speaking, the rising value of China's currency will stimulate foreign imports to China.
What is the concept stock of RMB assets? What stocks are there in this category?
Real estate stocks and banking stocks are typical RMB asset concept stocks, which are simply financial stocks, and finance includes many, mainly referring to banks and real estate stocks here.
The Impact of RMB Appreciation on China's Economy
China should adjust its industrial structure by raising environmental costs and abandon its short-sighted development strategy.
For more than 20 years, China's traditional mercantilist development model has mixed advantages and disadvantages. In this process of import and export trade exchange, China's economic capital has greatly increased, but its natural capital has suffered heavy losses. At present, China has formed several large ecological danger zones, such as the South-to-North Water Transfer Project. The shortage of water resources in North China is a foregone conclusion, and China has to adjust the allocation of resources through water conservancy projects costing 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, which is only found in Ukraine and the central United States in the world. However, after the devastating development in recent decades, the soil erosion of black land in China is serious. If we don't increase the cost of ecological protection in this area and blindly pursue cheap grain production and export, this black land will expose rocks in a few decades. The production of wool and cashmere products in China also bears an unshirkable responsibility for the desertification in the northwest, and the ecological deterioration in the northwest is becoming more and more serious.
As for the cost of controlling environmental pollution, it is even greater. The annual investment of1000-200 billion largely offsets the achievements of economic development. Generally speaking, if the environmental cost is included in the cost accounting, the trade cost of China is huge. As far as comparative advantage is concerned, many of our export products are produced at a comparative disadvantage. In order to export more cheaply, we will not hesitate to destroy and pollute the ecological environment.
It is urgent to raise the environmental cost of China. The state should formulate a series of legal protection measures, for example, not to implement export tax rebate for some products, to reduce the export competitiveness of these products through tax policies, and to increase the environmental costs of these products. At present, China should carefully check the real costs of some export industries, such as silk, leather and agricultural products, and find back the missed environmental costs. Rational utilization of international resources through tariff adjustment. Through comparative advantage, we can eliminate those domestic products that are not competitive and those export products that are losing money, and finally achieve the purpose of adjusting the industrial structure. This may affect the interests of some regions and departments on the surface and in time, but it is in line with the long-term survival and development of the Chinese nation.
Generally speaking, China has not got rid of the export characteristics of developing countries, that is, relying on resources for technology and service products. This trade is an export to developing countries. At present, the export volume of marble, cement and pig iron in China ranks among the best in the world. Another feature of this trade is that there is price inequality between primary products and industrial products, and primary product countries need to exchange more labor and resources for the products they need. If developing countries can't reverse this trade structure in time, the final result will be resource depletion and weak trade. At present, this resource-based export has put some African countries into an unsustainable situation. In recent years, the proportion of China's industrial products exports has been rising, and the proportion of processing trade is relatively large, but we should also pay attention to the environmental and resource costs.
Second, the comparison between ancient and modern mercantilism-