The Chinese Yuan (CNY) or Renminbi (RMB) – the direct translation of which means “the people’s currency”, is the national currency of the People’s Republic of China (PRC). In addition, specific features of the PRC monetary system are defined by the headline “one country, two systems”. 

This “one country, two systems” policy implies different key issues. The first one is a political issue based on the PRC’s constitutional principle considering that there is only one China ruled by a “socialist with Chinese characteristics political system” with two special administrative regions such as Hong Kong and Macau run by a more liberal and capitalist system. So, China holds this two-fold system of a socialist one in political terms and a capitalist one in economic terms particularly in these special autonomous regions, Hong Kong and Macau, which are former British and Portuguese colonies respectively. However, even in Mainland China, this duality is shown in truly developed cities like Shanghai, Beijing or Shenzhen. Moreover, PRC is the only country in the world with two of its own official foreign currencies, the Chinese Yuan (CNY) which is basically traded in Mainland China and the Hong Kong Dollar (HKD) which is perfectly convertible and traded worldwide.