Rmb in the context of People's Bank of China


Rmb in the context of People's Bank of China

⭐ Core Definition: Rmb

The renminbi (Chinese: 人民币; pinyin: Rénmínbì; lit. 'People's Currency' Chinese pronunciation: [ʐən˧˥min˧˥pi˥˩]; symbol: ¥; ISO code: CNY; abbreviation: RMB) is the official currency of China. The renminbi is issued by the People's Bank of China, the monetary authority of China. It is the world's fifth-most-traded currency as of April 2025. The Chinese yuan () is the basic unit of the renminbi.

One yuan is divided into 10 jiao (), and the jiao is further subdivided into 10 fen (). The word yuan is widely used to refer to the Chinese currency generally, especially in international contexts.

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Rmb in the context of 863 Program

The 863 program (Chinese: 863计划) or State High-Tech Development Plan (Chinese: 国家高技术研究发展计划) was a program funded and administered by the government of the People's Republic of China intended to stimulate the development of advanced technologies in a wide range of fields for the purpose of rendering China independent of financial obligations for foreign technologies. It was inspired by the Strategic Defense Initiative proposed by U.S. president Ronald Reagan in 1983, and was absorbed alongside Program 973 into the "National Key R&D Program" in 2016.

On March 3, 1986, the program was suggested by Wang Daheng, Wang Ganchang, Yang Jiachi, and Chen Fangyun in a letter to China's paramount leader Deng Xiaoping, who approved the program within 2 days. The program was initially led by Zhao Ziyang, who was the premier of China at the time, and received a governmental fund of 10 billion RMB in 1986, which accounts for 5% of the total government spending that year. According to the US National Counterintelligence and Security Center, the 863 program "provides funding and guidance for efforts to clandestinely acquire US technology and sensitive economic information."

View the full Wikipedia page for 863 Program
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