Renminbi = RMB = ¥CNY, Chinese currency Yuan. Welcome to Renmin.be
In the first half of 2004, under the steering of the State Council, the People’s Bank of China (PBC) used various monetary policy instruments, including strengthened open market operations and differentiated required reserve ratios for financial institutions, to appropriately control the growth of base money and the faster than desired expansion of money and credit.
Tosupport the reemployment of unemployed laid-off workers and promote theimplementation of micro guaranteed credit policy, the People’s Bank of China,the Ministry of Finance, the Ministry of Labor and Social Security and theChina Banking Regulatory Commission jointly held a videoconference on promotingthe implementation of micro credit policy on the morning of July 6, 2004.
OnJanuary 1st, with the approval of the State Council, the PBCbroadened the floating range of financial institutions’ lending rates. Theupper limit of commercial banks and urban credit cooperatives’ lending rateswas raised to 1.7 times the benchmark lending rate, with that of rural creditcooperatives’ lending rates to 2 times the benchmark lending rate, while thelower limit of financial institutions’ lending rates stayed at 0.9 times thebenchmark lending rate.
ThePBC’s Branch Presidents Conference was held in Beijing on June 17, 2004. With apurpose of fully implementing the guiding principles and policies set by theCPC Central Committee and State Council on macroeconomic management, theconference reviewed the work in the first half of this year, analyzed currenteconomic and financial situation, and laid out the plans to be carried out inthe second half of this year.
Performance of the financial industry remained sound and stable this May, and macro-control policies started to take effect. Growth of money supply and loans moderated though medium and long term loans and foreign currency loans kept on increasing fast; growth of household savings deposits continued to fall; the money market interest rate and the exchange rate of Renminbi remained stable.
InJanuary, the performance of financial industry remained sound and stable.Growth of money supply witnessed large deceleration. RMB loans expanded RMB65.6billion yuan less than last January, and the growth of all types of loans byfinancial institutions continued to decelerate. Corporate deposits declinedmarkedly while household savings deposits grew rapidly. Inter-bank marketwitnessed active transactions and interest rates in the money market sawmoderate rise.
Financial institutions referred to in this table include the People’s Bank of China, policy banks, State-owned commercial banks, other commercial banks, city commercial banks, UCCs, RCCs, rural commercial banks, TICs, financing companies, leasing companies, postal savings institutions and foreign-funded financial institutions.
The StateCouncil has recently appointed new members into the Monetary Policy Committee.The Committee is now chaired by Mr. Zhou Xiaochuan, Governor of the People’sBank of China and comprises 12 other members.
The first batch of Renminbi was issued on December 1, 1948, in a three-story gray building at No. 11 Zhonghua Beidajie in present-day Shijiazhuang, the original site of the People’s Bank of China’s head office. Three types of coupons were issued in the first batch of Renminbi: the 10 yuan irrigation field mine, the 20 yuan fertilizer train, and the 50 yuan waterwheel mine wagon.
The first set of Renminbi was issued from December 1, 1948 to December 1953, with a total of 12 denominations and 60 types of coupons (of which 3 original versions were printed in 2 colors each) in 5 years. Signed by Dong Biwu.
Front: rolling historical wheels, rockets and modern high-rise buildings. Back: radiant sun, earth, colorful ribbons, human eye
Obverse: Nine floors of Dunhuang Mogao Grottoes, country name, denomination, era name. Back: Exquisite colored sculptures from the Dunhuang Grottoes and Dunhuang murals
Obverse: Country name, year name, five-star lotus pattern on the flag of the Macao Special Administrative Region. Back: Mazu Pavilion and sailboat against the abstract Great Wall and three peace doves
Obverse: Country name, year name, five-star lotus pattern on the flag of the Macao Special Administrative Region. Back: Macau seascape and text of the Basic Law of the Macau Special Administrative Region of the People’s Republic of China
Front: country name, year number, Tiananmen Square and fireworks. Back: In the center is the word “50” formed by a deformation of the Great Wall, with a dove of peace at the top.
Front: Country name, era name, site of the first session of the CPPCC National Committee – Xinhua Gate, Zhongnanhai. Reverse: Emblem of the National Committee of the Chinese People’s Political Consultative Conference, with decorative petals on both sides.
Front: country name, national emblem, year number. Reverse: A male Papillion butterfly and a wild rhododendron
Front: country name, national emblem, year number. Back: An adult male Chinese sturgeon is swimming against the bottom of the river
Front: Country name, era name, former residence of Liu Shaoqi in Huaming Tower, Hunan. Back: Liu Shaoqi’s portrait selected from “Selected Works of Liu Shaoqi” and the words “Liu Shaoqi’s 100th Birthday 1898–1998”
Front: country name, national emblem, year number. Back: An almost adult alligator lying on the swamp
