Category: 

What Currency Is Most Often Used in China?

As of 2014, China has the largest economy in the world. Its currency however, is not as valuable as one would expect. In 2014, 1 USD was equivalent to about 6.1 Chinese yuan. As of 2015, only 20% of Chinese trade is conducted with Chinese currency. Foreign currency is most often used in China for trade.

Use of the yuan for trade in China is actually on the rise. In 2009, the Chinese yuan was not used for even 1% of total trade in the country. There is an effort by the Chinese government to increase the value of China's currency in the hopes that it will become a global trading currency in the future.

More about Chinese economy:

  • As of 2014, the Chinese economy is worth 17.6 trillion USD.

  • The Chinese economy grew at a rate of about 10% for three decades until 2008.

  • As of 2013, US owes China 1.28 trillion USD.

Follow wiseGEEK:
  twitter


Discuss this Article

anon992414
Post 1

China, as you know, is a dragon of the Asian continent and its currency is still weak compared with the US one. What makes a currency hard or weak? The economy is the first reason of that,isn't it?

Thanks for your comment and advice.

--Sakhri M.

Post your comments

Post Anonymously

Login

username
password
forgot password?

Register

username
password
confirm
email

Free Widgets for your Site/Blog

The Argentinian resort town of EpecuĂ©n was submerged by flooding for years; it is now populated by one elderly man.  more...
 
December 5 ,  1933 :  Prohibition ended in the US.  more...