Chinese Money — History, Culture, Bank Notes and Coins

aside from its practical measure, money is made distinctive by the culture in which it rises and evolves. taiwanese money is no different, with the bank notes proudly diplaying the font of Mao Zedong as will to China ‘s late history. In this guide, beyond the value of money in its buying world power, we consider its respect as a reflection of the chinese people .

Photos of Current Chinese Bank Notes

Below is the fifth series of banknotes, commissioned in 1999, with the head of Mao Zedong on the front, and fourth series jiao notes. The 2 jiao note is now rarely seen .
100 Yuan (Reverse Image: The Great Hall of the People, Beijing)

50 Yuan (Reverse Image: The Potala Palace, Lhasa)

20 Yuan (Reverse Image: The Li River, Guilin)

10 Yuan (Reverse Image: The Yangtze Three Gorges, Central China)

5 Yuan (Reverse Image: Mount Tai, Shandong Province)

1 Yuan (Reverse Image: “Three Ponds Reflecting the Moon”, West Lake, Hangzhou)

5 Jiao and 1 Jiao (Front: Emblem of the PRC, Reverse Images: Chinese Minority Faces)

Photos of Current Chinese Coins

1 Yuan (Reverse Image: Chrysanthemum)

5 Jiao (Reverse Image: Lotus)

1 Jiao (Reverse Image: Orchid)

The History of Chinese Money

From Shells to Silver

The 5 jiao note celebrates the diverse heritage of China’s people The 5 jiao note celebrates the divers inheritance of China ‘s people The earliest shape of chinese money was shells ( hence the use of the shell character in many other characters related to measure, money and wealth ). Money shells were later bronzed. In the period of rival states ( 770 – 221 BC ) unlike shapes of money were used by unlike states : knife-shaped, spade shaped, and ant-nose-shaped .
When Qin Shihuang, the First Emperor, unite China in 221 BC round coins with a square hole in the middle were introduced and this imprint of currency was used until around 1890. This is the imprint of the currency in the nation ‘s democratic imagination, and representations of it can be seen in the modern day as symbols of wealth and prosperity.

For higher horizontal surface transactions, ingots of silver were normally used. These ingots resemble in their kind the classical origami boat children enjoy folding out of newspaper, and it may be seen on keepsake stalls as the item held aloft in some representations of the Buddha, a symbol of prosperity .

The Early-Modern Era

chinese banking started about by accident in the 1820s when a successful dyer with a outgrowth position in Beijing was asked by a ally if he might give him some money in Pingyao, his home town, collecting the same amount from the dyer ‘s function in Beijing. This enabled the friend to avoid bandits. Others caught on to this theme and so that hometown, the attractive and well-preserved wall town of Pingyao in Shanxi province, became for a while the fiscal center of all China .
The conclusion of the imperial era and the disruptive meter that followed saw first local anesthetic mints, then high inflation and fiscal imbalance. It was not until the Communist era began in 1949 that a stable currentness was established, using largely notes, and coins for denominations of 1 yuan and lower .

Chinese Money Today

The 1 jiao note celebrates the diverse heritage of China’s people The 1 jiao bill celebrates the divers heritage of China ‘s people money forms a large part of the everyday lives of Chinese. electronic transactions are becoming increasingly common, thus expect the frustrations in supermarket queues as everywhere else in the earth when person ahead of you has a handful of items and chooses to pay with a bank card. Checks are rarely used. Cash is inactive the prefer means of transaction, so notes of versatile denominations are changing hands all day long, even for quite large amounts .
Becoming rich is a common regard, pipe dream and avocation, though more and more of the younger coevals, not having been to exposed to the difficulties their parents and grandparents faced in times of necessitate, are looking farther afield in animation for fulfillment .

Preferences and Traditions

In China notes are preferred to coins, specially in rural areas, though historically, and up until merely about 140 years ago, the coin with the hole in the middle was currency .
crimson envelopes containing bank notes are ceremonially given at special occasions quite than presents : festivals ( particularly chinese New Year ), marriages, births, visiting pale relatives, etc .
‘ Paper money’ ( actually yellowy low-grade penetrate paper ) is tied burned for the all in in the impression ( or tradition ) that it will give them money for the afterlife, specially on Qingming Festival or Tomb Sweeping Day. Replica 100 Yuan Notes are besides stuck on tombs .

Denominations of Chinese Money

The basic unit of chinese currency is the yuan ( 元 /ywen/ ), spoken colloquially as kuai ( 块 /kwhy/ ). There are 10 jiao ( 角 /jyaoww/ ), known colloquially as monoamine oxidase ( 毛 /maoww/ ), to the yuan. The fen ( 分 /fnn/ ), 1/100th of a yuan, is so rarely used now that marsh coins and notes are about out of circulation .
Paper notes come in 1 and 5 jiao, 1, 2, 5, 10, 20, 50 and 100 yuan denominations, though the 2 yuan note is rarely seen these days. There are besides 1 jiao, 5 jiao and 1 yuan coins. See below for photograph .

Photos of Old Chinese Bank Notes

apart from the 2 yuan and 1 yuan Notes these notes from the one-fourth series are rarely seen in circulation .
100 Yuan

50 Yuan

10 Yuan

5 Yuan

2 Yuan

1 Yuan

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Category : Economy