Money

LEAF-go-VSO

Money

The Chinese currency is the Renmimbi (RMB), or People's Money. The basic unit of the RMB is the yuan, which is divided into ten jiao, which is then divided into ten fen. The fen, however, has so little value that it is hardly ever used.

Colloquially the yuan is referred to as the kuai and the jiao as the mao. The Bank of China issues notes to the value of: 1, 2, 5, 10, 20, 50 and 100 yuan. Coins come in denominations of 1 yuan, 5 jiao, 1 jiao and 5 fen. There are also paper versions of these coins, with the addition of a 2 jiao note.

In 2005 the exchange rate was £1=15yuan. In late 2008 the rate had dropped to £1=10yuan.

Freda buying a few pink radishy things at the market for 5 jiao.

The pictures on the different notes are very interesting and tell us something about the geography, culture and history of China. Knowledge of all these famous places is ingrained into the Chinese psyche.

1999 One Yuan note
West Lake (Xihu), Hangzhou, Zhejiang Province
These are the Santan Yinyue, The Three Pools Mirroring the Sun.

1996 One Yuan note
Great Wall, Hebei Province, near Beijing

1990 Two Yuan note
unknown

1999 Five Yuan note
Tai Shan (1545m), Shandong Province
The most revered of China's five sacred Taoist peaks and, maybe, the most climbed mountain on Earth!

1999 Ten Yuan note
Yangtze Three Gorges, Hubei Province

1980 Ten Yuan note
Mt. Qomolangma (8848m), Tibet

1999 Twenty Yuan note
Li River, Guilin, Guangxi Province

1999 Fifty Yuan note
Potala Palace, Lhasa in Tibet, which seems to be part of China these days...

2005 100 Yuan note
The Great Hall of the People, Tiananmen Square, Beijing
This is where the National People's Congress convenes. Tiananmen Square is the world's largest public square.

This chap, Mao Zedong (1893-1976) features on all the notes. Rather ironic really, as his Communist principles meant that he refused to touch money when he was Chairman of the Party! Perhaps a more obvious face to adorn the Chinese currency would be that of Deng Xiaoping - the leader who steered China towards the current economic boom days with his policies of "Capitalism with Chinese Characteristics".

Here's a bit of anti-Chinese, anti CCP sentiment printed on a 1yuan note which we received in our change recently.
Thought-provoking - in that this is one of the only ways to spread dissident opinion in a country where public criticism of the government is a highly dangerous and criminal activity.

Meanwhile, here's the cost of living in Simao in 2006 (figures in brackets are 2008 figures, if different):

Giant pomelo Y2-3

Pineapple Y2

1/2 Kilo mandarin oranges Y2

1/2 chicken (plucked and gutted) Y15

2 cucumbers Y1

Meal out for the family Y20-30 (Y40)

Lunch for family at canteen restaurant Y5 (Y8)

Small pot of yoghurt Y1.5

Rice for 4 from College Canteen Y0.5 (Y1)

Breakfast steamed (filled) bread Y1 for 5 small ones

Postcard stamp to UK Y4.5

DVD (pirated) Y6

Kebab (lamb) Y1 (Y2)

Single-speed bicycle with child seat Y370 (Y400)

Gent's hair cut Y4-5

Bus to town centre from College Y1 (children Y0.5; pre-school children free)

Taxi within Simao town Y5

Broadband connection (monthly) Y50

Bus ticket to Kunming Y130 (Y157)

Single flight to Kunming Y390 (Y490)

but don't forget.....

Monthly salary Y2200

Recycling

One way that we can recoup some spare cash is recycling our cans and bottles. As you would imagine, here in Simao just about everything that can be, is recycled. Our rubbish is even sifted through within the college grounds before being taken away. All this is changing though as more and more supermarkets appear and goods become over-packaged (moon cakes; tea; biscuits). As well as the huge economic boom it's currently experiencing, China will have to cope with a massive refuse disposal problem (along with all the environmental problems which we're not going to go into here...!).

Freda taking a good few months' worth of recycling (left) to one of our local recycling shops (right). If the girls help count, bag and carry then they can put the 'earnings' in their piggy banks. This is an example of an afternoon Home School activity: maths; environmental studies; economics! This time round we came away with Y15, enough to buy about 6 bowls of noodles.