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141-639: Per a 2020 publication by the Zhongshan government, Xiaolan has approximately 333,000 permanent residents, but has just 181,988 registered hukou residents as of 2018. The town spans an area of 71.47 square kilometres (27.59 sq mi). According to some historical imperial records, a concubine of emperor Song Duzong of the Southern Song dynasty , eloped from the palace to pursue her true love. The concubine fled south until she finally arrived in Xiaolan, where she

282-419: A digital renminbi was going to be released after years of preparation. This version of the currency, also called DCEP (Digital Currency Electronic Payment), can be “decoupled” from the banking system to give visiting tourists a taste of the nation's burgeoning cashless society . The announcement received a variety of responses: some believe it is more about domestic control and surveillance. Some argue that

423-694: A dragon on the obverse and the reverse features the China Millennium monument (at the Center for Cultural and Scientific Fairs). For the 2008 Beijing Olympics , a green ¥10 note was issued featuring the Bird's Nest Stadium on the front with the back showing a classical Olympic discus thrower and various other athletes. On 26 November 2015, the People's Bank of China issued a blue ¥100 commemorative note to commemorate aerospace science and technology. In commemoration of

564-424: A reserve currency is above 60%, while that of the renminbi is about 2%. In April 2020, The Guardian reported that the digital currency e-RMB had been adopted into multiple cities' monetary systems and "some government employees and public servants [will] receive their salaries in the digital currency from May. The Guardian quoted a China Daily report which stated "A sovereign digital currency provides

705-605: A 2010 study revealed that rural workers earned 40% less than urban workers, and only 16% receive employment benefits. Migrant workers' labor rights are also frequently violated – they work excessively long hours in poor conditions, and face physical and psychological harassment. Migrant workers are also disproportionately affected by wage arrears, which occur when employers either fail to pay employees on time or in full. Although such incidences are technically illegal and punishable by seven years' jail time, wage arrears still occur, and labor contracts and pensions may be disregarded. In

846-502: A condition that encourages more migrant parents to bring their children along. In short, the majority of rural migrants thus are still largely overlooked due to their lack to urban hukou, which is often seen as starting point for gaining access to life well-being. The Floating Population Dynamic Monitoring Surveys, which have been conducted every year since 2010 by the National Health and Family Planning Commission, have reported that

987-594: A digital currency "doesn't solve the problem that some people holding renminbi offshore will want to sell that renminbi and exchange it for the dollar", as the dollar is considered to be a safer asset. Eswar Prasad , an economics professor at Cornell University , said that the digital renminbi "will hardly put a dent in the dollar's status as the dominant global reserve currency" due to the United States' "economic dominance, deep and liquid capital markets, and still-robust institutional framework". The U.S. dollar's share as

1128-493: A functional alternative to the dollar settlement system and blunts the impact of any sanctions or threats of exclusion both at a country and company level. It may also facilitate integration into globally traded currency markets with a reduced risk of politically inspired disruption." There were talks of testing out the digital renminbi in the Beijing Winter Olympics in 2022, but China's overall timetable for rolling out

1269-446: A hundred enterprises started business in Xiaolan. Both local and foreign enterprises which specialize in production of domestic stereos, DVDs , laser heads, high-tech digital audio equipment, loudspeakers, circuit boards and aluminium panels are clustered in this small town. Production bases of such foreign brands as ADS and Boston operate in Xiaolan while Philips, Toshiba, JBL, Onkyo and Jamo also run their OEM production there. In 2002,

1410-403: A key element for a market-oriented economy. A floating exchange rate regime and convertibility for renminbi were seen as the ultimate goal of the reform. Conditional convertibility under current account was achieved by allowing firms to surrender their foreign exchange earning from current account transactions and purchase foreign exchange as needed. Restrictions on Foreign Direct Investment (FDI)

1551-418: A local, non-agricultural hukou, migrant children have limited access to public social infrastructure. For example, urban students' educational opportunities are far superior to that of their migrant student counterparts. The central government reformed the education system in 1986 and then again in 1993, yielding greater autonomy to local governments in the regulation of their education system. Limited space and

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1692-469: A lower quality of education. School facilities are often in poor condition, and many teachers are unqualified. In subsequent years, the central government has enacted a number of reforms, with limited impact. In 2001, it asserted that public schools should be the primary form of education for the nation's children, but did not specify how it would financially support schools in enrolling more migrant children, resulting in little change. Similarly, in 2003,

1833-491: A number of challenges in their pursuit of financial security. Urban residents received priority over migrants when it came to employment opportunities, and when migrant workers did find jobs, they tended to be positions with little potential for growth. While urban workers were supported by employment benefits and laws that favored them over their employers in case of disputes, rural hukou holders were not privy to such substantial protections. And because city officials' performance

1974-408: A precondition to change from rural hukou to urban hukou, many rural migrants indeed are unable to gain that access, as many are "unskilled" (because many skills, such as farming, are not categorized as professional skills) and poor. However, in some large cities, even if a rural migrant does carry certain professional skills, it is not a guarantee that one will be granted with urban hukou. This situation

2115-662: A result of foreign exchange management reforms approved by the 14th Central Committee of the Chinese Communist Party , the renminbi was officially devalued from US$ 1 = ¥5.5 to over ¥8, and the FEC was retired at ¥1 FEC = ¥1 RMB in favour of tourists directly using the renminbi. In November 1993, the Third Plenum of the 14th Central Committee of the Chinese Communist Party approved a comprehensive reform strategy in which foreign exchange management reforms were highlighted as

2256-568: A sense of stability. In the period following the fall of the Qing dynasty, China was ruled by various actors, each of which employed some system of household or personal identification. During the Japanese occupation, the Japanese employed a system used to identify those under their rule and to fund their war effort. Similarly, the Kuomintang utilized the system to monitor the activities of their opponents,

2397-424: A share of their foreign exchange earnings, referred to as foreign exchange quotas. At the same time, the government introduced measures to allow retention of part of the foreign exchange earnings from non-trade sources, such as overseas remittances, port fees paid by foreign vessels, and tourism. As early as October 1980, exporting firms that retained foreign exchange above their own import needs were allowed to sell

2538-477: A significant number of migrant workers are in fact not interested in converting their hukou status. While hukou policy reform has been gradual over the years, barriers to conversion have been lowered. However, many rural residents are hesitant to give up their agricultural hukou status. As rural hukou holders, they have property rights not afforded to their urban counterparts, which allow them to use land both for agricultural production and for personal use. And with

2679-430: A study conducted at the end of the 1990s, 46% of migrant workers were missing three or more months of pay, and some workers had not been paid in a decade. Fortunately, over the past couple of decades, the prevalence of wage arrears have decreased, and in a study conducted from 2006 to 2009, it was found that 8% of migrant workers had experienced wage arrears. Following Mao's death in 1976 came economic reforms that caused

2820-521: A surge in demand in the labor market. Rural residents rushed to fill this void, but without the support of hukou status-based government social programs, many of them were forced to leave their families behind. Economic growth throughout the years has maintained a high demand for labor in the cities that continues to be filled by migrant workers, and, in 2000, the Fifth National Population Census revealed that 22.9 million children between

2961-681: A thousand varieties. Every 60 years, a grand chrysanthemum exhibition will be held in Xiaolan. Xiaolan is dubbed “Lock City of the South” as well as “Electronic Acoustic Industrial Base” in China. The two industries are the pillar industries of Xiaolan. Xiaolan controls 23% of the national market share. Indeed, there are production lines of such famous brands as Vantage gas stoves, Guli locks and St. Allen nail clippers in Xiaolan. Over 30% of manufacturing enterprises in Xiaolan are engaged in locks and hardware production. Such production accounted for nearly 50% of

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3102-434: A tiny room with many others. It hence is worth asking the question whether or not the hukou system has been sufficiently improved to a more people-centered system. In fact, many large cities are still strict about granting rural migrants with urban hukou and about using the hukou system to determine whether or not one should be granted with welfare entitlements. Even if the "National New-type Urbanization Plan (2014-2020)" and

3243-480: A whole. To improve research and development for local firms, a technology development centre specializing in the production of locks and hardware was set up in February 2003, and post-doctoral work stations and partnerships with universities have also been established to aid the town's hardware industry. An enterprise-based technology development centre with investment from a US-based acoustics stereo enterprise, AVlight

3384-638: Is carried out by a state owned corporation, China Banknote Printing and Minting Corporation ( CBPMC ; 中国印钞造币总公司 ) headquartered in Beijing . CBPMC uses several printing, engraving and minting facilities around the country to produce banknotes and coins for subsequent distribution. Banknote printing facilities are based in Beijing, Shanghai , Chengdu , Xi'an , Shijiazhuang , and Nanchang . Mints are located in Nanjing , Shanghai, and Shenyang . Also, high grade paper for

3525-484: Is insured. Many residents in Xiaolan cultivate chrysanthemums . On occasion, they provide chrysanthemum-themed banquets. They also create a number of chrysanthemum-themed poems and drawings . The town has more than 70 public sports facilities, and 21 gymnasiums . The Xiaolan Integrated Sports Centre was established in 1994, and has hosted a number of national and international ping-pong tournaments since then. The town's railway station, Xiaolan railway station

3666-490: Is often harder to get into college. Since 2012, some regions began to relax the requirements and allow some children of migrants to take College Entrance Exam in the regions. By 2016, Guangdong's policies are the most relaxed. A child of migrants can take Entrance Exam in Guangdong if he or she has attended 3 years of high school in the province, and if the parent(s) have legal jobs and have paid for 3 years of social insurance in

3807-420: Is particularly revealed from many highly educated migrants. Despite their education background, many would not be granted with urban hukou unless they become a homeowner. However, given the high price of real estate in many large cities (such as Beijing, Shanghai, Guangzhou), many are unable to do so even if some cities do offer housing subsidies to migrants. Given their lack of urban hukou, many not only face

3948-512: Is printed in simplified written Chinese . The numbers themselves are printed in financial Chinese numeral characters, as well as Arabic numerals . The denomination and the words "People's Bank of China" are also printed in Mongolian , Tibetan , Uyghur and Zhuang on the back of each banknote, in addition to the boldface Hanyu Pinyin "Zhongguo Renmin Yinhang" (without tones). The right front of

4089-475: Is situated on the Guangzhou–Zhuhai intercity railway . Hukou Hukou ( Chinese : 户口 ; lit. 'household individual') is a system of household registration used in mainland China . The system itself is more properly called " huji " ( Chinese : 户籍 ; lit. 'household origin'), and has origins in ancient China ; hukou is the registration of an individual in

4230-567: Is sometimes referred to as the "redback", a play on "greenback", a slang term for the US dollar . The various currencies called yuan or dollar issued in mainland China as well as Taiwan , Hong Kong , Macau and Singapore were all derived from the Spanish dollar , which China imported in large quantities from Spanish America from the 16th to 20th centuries. The first locally minted silver dollar or yuan accepted all over Qing dynasty China (1644–1912)

4371-467: Is the main industry in the primary sector found in Xiaolan Town. The town is well known for its Chrysanthemum plants, and is often called “Chrysanthemum City” ( Chinese : 菊城 ; pinyin : Jú Chéng ), according to the town's government. From October to November every year, Xiaolan hosts a chrysanthemum festival along its major streets and parks. The show features about 100,000 pots of over

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4512-470: Is to distinguish the rates from those fixed by Chinese central banks on the mainland. The abbreviation RMB is not an ISO code but is sometimes used like one by banks and financial institutions. The currency symbol for the yuan unit is ¥ , but when distinction from the Japanese yen is required RMB (e.g. RMB 10,000) or ¥ RMB (e.g. ¥10,000 RMB) is used. However, in written Chinese contexts,

4653-513: Is widely used to refer to the Chinese currency generally, especially in international contexts. Until 2005, the value of the renminbi was pegged to the US dollar . As China pursued its transition from central planning to a market economy and increased its participation in foreign trade, the renminbi was devalued to increase the competitiveness of Chinese industry. It has previously been claimed that

4794-402: The "stay-at-home" or "left-behind" children . There are around 130 million such left-behind children, living without their parents, as reported by Chinese researchers. As rural workers provide their workforce in the urban areas, which also profit from the respective taxes, while their families use public services in the rural areas (e.g. schools for their children, health care for the elderly),

4935-914: The Chinese Communist Party took control of ever larger territories in the latter part of the Chinese Civil War , its People's Bank of China began to issue a unified currency in 1948 for use in Communist-controlled territories. Also denominated in yuan , this currency was identified by different names, including "People's Bank of China banknotes" ( simplified Chinese : 中国人民银行钞票 ; traditional Chinese : 中國人民銀行鈔票 ; from November 1948), "New Currency" ( simplified Chinese : 新币 ; traditional Chinese : 新幣 ; from December 1948), "People's Bank of China notes" ( simplified Chinese : 中国人民银行券 ; traditional Chinese : 中國人民銀行券 ; from January 1949), "People's Notes" (人民券, as an abbreviation of

5076-471: The Chinese character for yuan (Chinese: 元 ; lit. 'constituent', 'part') or, in formal contexts Chinese: 圆 ; lit. 'round', usually follows the number in lieu of a currency symbol. Renminbi is the name of the currency while yuan is the name of the primary unit of the renminbi. This is analogous to the distinction between " sterling " and " pound " when discussing

5217-457: The Chinese yuan , is the official currency of the People's Republic 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 2022. The yuan ( 元 ) is the basic unit of the renminbi. One yuan is divided into 10 jiao ( 角 ), and the jiao is further subdivided into 10 fen ( 分 ). The word yuan

5358-607: The Examination of Hukou in Wenxian Tongkao published in 1317, there was a minister for population management during the Zhou dynasty named Simin (Chinese: 司民 ), who was responsible for recording births, deaths, emigrations and immigrations. The Rites of Zhou notes that three copies of documents were kept in different places. The administrative divisions in Zhou dynasty were a function of

5499-469: The huji system and an individual's hukou . The hukou system has origins in China that date back to ancient times, but the system in its current form came into being with the 1958 People's Republic of China Hukou Registration Regulation . Until very recently, each citizen was classified in an agricultural or non-agricultural hukou (commonly referred to as rural or urban) and further categorized by location of origin. This two-fold organization structure

5640-478: The hukou system upon migrant labourers became onerous in the 1980s after hundreds of millions were ejected from state corporations and cooperatives. Since the 1980s, an estimated 200 million Chinese live outside their officially registered areas and under far less eligibility for education and government services, living therefore in a condition similar in many ways to that of illegal immigrants . The millions of peasants who have left their land remain trapped at

5781-510: The "Opinions on Further Promoting the Reform of the Hukou System" implemented in the third reform period intend to create a more people-centered system, they claim that larger cities should have different hukou registration systems from the smaller cities and towns; and that the hukou regulation will continue to be stricter in larger cities. However, the very large cities (such as Beijing) are usually

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5922-545: The "Pilot Scheme for Reform of the Hukou System in Small Towns" and "Instructions on Improving the Management of Rural Hukou System", rural migrant workers could register as permanent residents with equal access to urban privileges in certain small towns. These policies were then made official in 2012 with the state document "Notice on Actively Yet Prudently Pushing Forward the Reform of Hukou System Management." Moreover, in 1999,

6063-494: The 21st century BC. In its early forms, the household registration system was used primarily for the purposes of taxation and conscription, as well as regulating migration. Two early models of the hukou system were the xiangsui and baojia systems . The xiangsui system, established under the Western Zhou dynasty ( c. 11th–8th centuries BC) was used as a method of organizing and categorizing urban and rural land. The function of

6204-705: The 70th Anniversary of the issuance of the Renminbi, the People's Bank of China issued 120 million ¥50 banknotes on 28 December 2018. In commemoration of the 2022 Winter Olympics , the People's Bank of China issued ¥20 commemorative banknotes in both paper and polymer in December 2021. In commemoration of the 2024 Chinese New Year, the People's Bank of China issued ¥20 commemorative banknotes in polymer in January 2024. The renminbi yuan has different names when used in ethnic minority regions of China. Renminbi currency production

6345-496: The 84 patents reviewed by the Financial Times indicate that China may plan to algorithmically adjust the supply of a central bank digital currency based on certain triggers, such as loan interest rates . Other patents are focused on building digital currency chip cards or digital currency wallets that banking consumers could potentially use, which would be linked directly to their bank accounts. The patent filings also point to

6486-500: The Book of Lord Shang , Shang Yang also described his policy restricting immigrations and emigrations. Xiao He , the first Chancellor of the Han dynasty , added the chapter of Hu (Chinese: 户律 , "Households Code") as one of the nine basic law codes of Han (Chinese: 九章律 ), and established the hukou system as the basis of tax revenue and conscription. The first formal codification of

6627-419: The Chinese Communist Party, and the Chinese Communist Party in turn used a system called lianbao, which bundled families into groups of five to aid tracking and impede counterrevolutionaries. At the time of its founding in 1949, the People's Republic of China was a highly agricultural nation. About 89% of its citizens lived in rural areas – about 484 million resided in the countryside, versus about 58 million in

6768-681: The People's Republic of China Hukou Registration Regulation was signed into law. This divided the populace into nongmin (rural citizen), with an agricultural hukou, and shimin (urban citizen), with a non-agricultural hukou, and grouped all citizens by locality. The key difference, however, lay in the distinction between agricultural and non-agricultural hukou status. Because the central government prioritized industrialization, state welfare programs, which were tied to hukou status, heavily favored urban residents; holders of agricultural hukous were unable to access these benefits and were saddled with inferior welfare policies. Furthermore, transfer of hukou status

6909-465: The People's Republic of China. It was issued only in paper form at first, and replaced the various currencies circulating in the areas controlled by the Communists . One of the first tasks of the new government was to end the hyperinflation that had plagued China in the final years of the Kuomintang (KMT) era. That achieved, a revaluation occurred in 1955 at the rate of 1 new yuan = 10,000 old yuan. As

7050-412: The People's Republic of China: In 1999, a commemorative red ¥50 note was issued in honour of the 50th anniversary of the establishment of the People's Republic of China. This note features Chinese Communist Party chairman Mao Zedong on the front and various animals on the back. An orange polymer note , commemorating the new millennium was issued in 2000 with a face value of ¥100. This features

7191-648: The Southeast Asian country Vietnam ( hộ khẩu ). In South Korea, the hoju system was abolished in January 2008. While unrelated in origin, propiska in the Soviet Union and resident registration in Russia had a similar purpose and served as a model for modern China's hukou system. Due to its connection to social programs provided by the government, which assigns benefits based on agricultural and non-agricultural residency status (often referred to as rural and urban),

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7332-400: The ability to become an urban homeowner) or both. Some scholars hence also call some reform policies as ways of "selling" hukou. Meanwhile, many migrants have claimed that their lack of social networks (part of what is called " guan xi ")—which in some sense is also accumulated with wealth —also has made it harder for them to find a stable job, let alone a lucrative job. Hence, if wealth is

7473-1077: The ages of 0-14 were living without either one or both of their parents. In 2010, that number had gone up to 61 million, equal to 37.7% of rural children and 21.88% of all Chinese children. These children are usually cared for by their remaining parent and/or their grandparents, and although there is a 96% school enrolment rate among left-behind children, they are susceptible to a number of developmental challenges. Left-behind children are more likely to resist authority and experience problems interacting with their peers; they are more likely to exhibit unhealthy behaviors such as foregoing breakfast and smoking, and have an increased likelihood of developing mental health issues, including loneliness and depression. And although left-behind children may have greater academic opportunities due to their parents' expanded financial capacity, they are also often under greater pressure to perform academically and thus are more vulnerable to school-related stress. Children of rural workers who do migrate with their parents also face challenges. Without

7614-414: The agricultural sector. According to academic Kam Wing Chan, the hukou system effectively "forbid the peasantry to exit agriculture." The instability and high rates of movement that characterized the years following the establishment of the nation impeded the central government's plan for society and the economy. Although the hukou system in its current form was not officially brought into being until 1958,

7755-462: The aluminium ¥0.01 and ¥0.02 coins ceased in 1991, with that of the ¥0.05 halting in 1994. The small coins were still struck for annual uncirculated mint sets in limited quantities, and from the beginning of 2005, the ¥0.01 coin got a new lease on life by being issued again every year since then up to present. New designs of the ¥0.1, ¥0.5 (now brass- plated steel), and ¥1 (nickel-plated steel) were again introduced in between 1999 and 2002. The ¥0.1

7896-425: The appearance of slums outside of urban areas due to a massive influx of individuals searching for work has not been an issue, nor have poor health conditions due to high population density. And regardless of its other imperfections, the hukou system's ability to maintain stability has contributed to China's economic rise. The legacy of the Chinese hukou system may be traced back to the pre-dynastic era, as early as

8037-491: The banknotes is produced at two facilities in Baoding and Kunshan. The Baoding facility is the largest facility in the world dedicated to developing banknote material according to its website. In addition, the People's Bank of China has its own printing technology research division that researches new techniques for creating banknotes and making counterfeiting more difficult. On 13 March 2006, some delegates to an advisory body at

8178-459: The baojia system, propagated by Lord Shang Yang of the 4th century BC, was to create a system of accountability within groups of citizens: if one person within the group violated the strict rules in place, everyone in the group suffered. This structure was later utilized and expanded upon during the Qin dynasty (221–207 BC) for the purposes of taxation, population control, and conscription. According to

8319-552: The city (where at least 8.2 million rural migrants lived). However some saw the campaign as intended to send millions of rural migrants back to their original rural areas. It has been brought into question whether the reforms mentioned above apply to the majority of rural-to-urban migrants. Specifically, many reform policies, especially those during the first and second periods, appear to require rural migrants to possess some sort of capital, either human capital (such as professional skills and titles) or property-related capital (such as

8460-406: The city. However, with efforts to increase industrialization and Soviet help (156 projects), more and more rural residents flocked to the cities in search of better economic opportunities: between 1957 and 1960, there was a 90.9% increase in the urban labor force. A major objective of the hukou system implemented by the central government was thus to control the stream of resources moving away from

8601-433: The command economy, helping the central government implement its plan for industrializing the nation. From the establishment of the People's Republic of China until Chairman Mao 's death in 1976, the central government tightened its control over migration, and by 1978, intranational movement was controlled entirely by the government. Because living "outside the system" was virtually impossible, nearly all movement of people

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8742-695: The conversion of hukou status had already been implemented. These required that applicants have paperwork that documented employment, acceptance to a university, or immediate family relations in the city to be eligible. In March of the same year, the Ministry of the Interior and the Ministry of Labor issued the Joint Directive to Control Blind Influx of Peasants into Cities, which proclaimed that henceforth, all employment of rural workers in city firms would be controlled entirely by local labor bureaus. On 9 January 1958,

8883-526: The countryside at all. This was essential to preventing organized opposition to Mao's policies. During China's transition from state socialism to market socialism (1978-2001), migrants, most of whom were women, worked in newly created export-processing zones in city suburbs under sub-standard working conditions. There were restrictions upon the mobility of migrant workers that forced them to live precarious lives in company dormitories or shanty towns where they were exposed to abusive treatment. The impact of

9024-483: The deaths of more than 65 million Chinese people. The 100 million urban hukou residents, however, were fed by fixed food rations established by the central government, which declined to an average of 1500 calories per day at times but still allowed survival for almost all during the famine. An estimated 95% or higher of all deaths occurred among rural hukou holders. With the suppression of news internally, many city residents were not aware that mass deaths were occurring in

9165-498: The deprivation of many of China's rural workers. In recent years, steps have been taken to alleviate the inequalities promulgated by the hukou system, with the most recent major reforms announced in March and July 2014, which included a provision that eliminated the division between agricultural and non-agricultural hukou status. In its original legislation, the hukou system was justified as created to “...maintain social order, protect

9306-584: The desire to protect local interests in turn induced local governments to avoid enrolling migrant children in their public schools. Furthermore, because the central government subsidized public schools based on enrolment rates of children with local hukous, migrant children were required to pay higher fees if they wanted to attend. Consequentially, many migrant families elect instead to send their children to private schools that specifically cater to migrants. However, to lower enrolment and attendance fees, these institutions must cut spending in other areas, resulting in

9447-430: The difficulty of purchasing an apartment—let alone purchasing a house—but also the disadvantage of being a renter. Because of the lack of rent control in many large cities, even if one rents a room—or rarely, an apartment—one can face the possibility of being asked to leave. Many of those educated migrant youths hence are also called "yi zu", literally "a group of ants", as many do not have their own room and have to live in

9588-796: The digital currency was unclear. In May 2023, RMB interest rate swaps was launched. In June 2023, under the Government Green Bond Programme, the Government of the Hong Kong Special Administrative Region of the People's Republic of China (HKSAR) announced a green bonds offering, of approximately US$ 6 billion denominated in USD , EUR and RMB. As of 2019, renminbi banknotes are available in denominations of ¥0.1, ¥0.5 (1 and 5 jiao), ¥1, ¥5, ¥10, ¥20, ¥50 and ¥100. These denominations have been available since 1955, except for

9729-601: The distance to the state capital. The top division nearest the capital was named Dubi (Chinese: 都鄙 ), top division in more distant areas were named Xiang (Chinese: 鄉 ) and Sui (Chinese: 遂 ). Families were organized under the Baojia system. Guan Zhong , Prime Minister of the Qi state 7th century BC, imposed different taxation and conscription policies on different areas. In addition, Guan Zhong also banned immigration, emigration, and separation of families without permission. In

9870-407: The division between agricultural and non-agricultural hukou status. The 2014-2020 National New-Type Urbanization Plan sought to attribute an urban hukou to 100 million people by 2020. It relaxed restrictions on small cities (fewer than 500,000 people) and medium cities (more than 1 million people). It maintained strong hukou restrictions on cities of more than 5 million inhabitants. Under

10011-490: The effects of migration on left behind elderly are ambiguous: while parents of migrant children are often better off financially and are happy with their economic situation, they also tend to report lower life satisfaction than do elderly without migrant children. Like the children of migrant workers, parents are known to experience psychological issues such as depression and loneliness, and those who take care of their grandchildren may feel burdened by this responsibility. Over

10152-530: The excess through the state agency responsible for the management of China's exchange controls and its foreign exchange reserves, the State Administration of Exchange Control. Beginning in the mid-1980s, the government sanctioned foreign exchange markets, known as swap centres, eventually in most large cities. The government also gradually allowed market forces to take the dominant role by introducing an "internal settlement rate" of ¥2.8 to 1 US dollar which

10293-469: The factory on June 11. In response, the plant's managers began hiring scabs in response to the strike, and offered monthly pay increases of 200 RMB. By July 2010, many of the plant's striking workers returned for such pay rise, while others quit in search of work elsewhere. As of 2020, Xiaolan is divided into 15 residential communities . Xiaolan is home to over 40,000 individual enterprises, of which, over 14,000 are manufacturing enterprises. Over 99% of

10434-460: The firms in Xiaolan are privately owned . Major brands headquartered in Xiaolan include Vatti , Luxking Group Holdings Limited  [ zh ] , Chant Group ( Chinese : 长青集团 ; pinyin : Chángqīng Jítuán ), and Forest Lighting ( Chinese : 木林森照明 ; pinyin : Mùlínsēn Zhàomíng ). The city is a cluster for a number of industries, including hardware, underwear manufacturing, audio devices, locks, and lighting. Agriculture

10575-721: The government called for lower fees for migrant children, but again failed to detail how it would help schools pay for this. And in 2006, the government created the New Compulsory Education Act which asserted equal rights to education and ceded responsibility for enrolling migrant children to provincial governments. However, this too failed to improve the lot of migrant children. Students with non-local hukou had to pay inflated admission fees of 3,000 – 5,000 yuan – out of an average annual household income of 10,000 yuan – and are required to take The National College Entrance Examination ( Gaokao ) at their hukou locality, where it

10716-414: The government for all aspects of daily life, the central government could force obedience from problematic individuals. The central government's efforts to contain migration has been a major factor in the rapid development of the Chinese economy . Their tight check on migration into urban areas has helped prevent the emergence of a number of problems faced by many other developing countries. For example,

10857-413: The government to provide imported machinery and equipment to priority industries at a relatively lower domestic currency cost than otherwise would have been possible. China's transition by the mid-1990s to a system in which the value of its currency was determined by supply and demand in a foreign exchange market was a gradual process spanning 15 years that involved changes in the official exchange rate,

10998-512: The household register ( simplified Chinese : 户口簿 ; traditional Chinese : 戶口簿 ; pinyin : hùkǒu bù ) is issued per family, and usually includes the births, deaths, marriages, divorces, and moves, of all members in the family. The system descends in part from ancient Chinese household registration systems. The hukou system also influenced similar systems within the public administration structures of neighboring East Asian countries, such as Japan ( koseki ) and Korea ( hoju ), as well as

11139-464: The hukou restrictions in towns and small cities, to gradually remove the restrictions middle-sized cities, to relax the restrictions in big cities—but to maintain the restrictions in the very large cities. As a result, according to an announcement of the Ministry of Public Security, by 2016, the state has already issued urban hukou to about 28.9 million rural migrants. Furthermore, in 2016, the local government of Beijing announced that they would abolish

11280-449: The hukou system arose at the end of the Qing dynasty (1644–1912) with the 1911 Huji Law. Although movement was nominally free under this statute, registration of individuals with the government was required, and it was used by the government to pursue communist forces and as a basis for taxation for the funding of wars. The law also expanded upon the baojia system, and was intended to establish

11421-553: The hukou system implemented by the central government in 1958, while holders of the non-agricultural hukou status were given ration cards for everyday necessities, including food and textiles, rural residents were forced to produce everything themselves. Whereas the state provided housing in the city, individuals had to construct their own homes. The state invested in education , arranged employment, and provided retirement benefits for city residents, and provided none of these services for their rural citizens. These disparities have left

11562-425: The hukou system is sometimes likened to a form of caste system. It has been the source of much inequality over the decades since the establishment of the People's Republic of China in 1949, as urban residents received benefits that ranged from retirement pension to education to health care, while rural citizens were often left to fend for themselves. Since 1978, the central government has undertaken reforms of

11703-486: The hukou system was no exception. Urban areas have historically been where authoritarian regimes are most vulnerable: to combat this, the central government gave preferential treatment to city residents, hoping to prevent uprisings against the state, particularly in the early years when it was especially susceptible to rebellion. The structure of the hukou system also bolstered the power of the central government over its urban citizens: by making city residents dependent upon

11844-408: The hukou system, the rural population was structured to serve as support for urban industrialization, both in agricultural production and workers for state owned businesses . In reality, the hukou system served other motives as well. After establishing the People's Republic of China in 1949, the Chinese Communist Party enacted policies based on the notions of stability and rapid modernization, and

11985-766: The industrial outputs of this sector reached RMB 4.6 billion, accounting for almost one third of the town's industrial output. The town has a sizable lighting industry, specifically in the production of LED lights . This industry accounts for over ¥10 billion in value to the local economy. Major LED brands with a presence in Xiaolan include Forest Lighting ( Chinese : 木林森照明 ; pinyin : Mùlínsēn Zhàomíng ), Everlight Electronics , Honbro Technologies ( Chinese : 鸿宝科技 ; pinyin : Hóngbǎo Kējì ), Poso Lighting ( Chinese : 品上照明 ; pinyin : Pǐnshàng Zhàomíng ), and Guangyang Appliances ( Chinese : 光阳电器 ; pinyin : Guāngyáng Diànqì ). Xiaolan has 19 banks and about 100 financial institutions as

12126-519: The integration of a digital currency system, choosing to embrace the blockchain technology. The patents reveal the extent of China's digital currency plans. The patents, seen and verified by the Financial Times , include proposals related to the issuance and supply of a central bank digital currency, a system for interbank settlements that uses the currency, and the integration of digital currency wallets into existing retail bank accounts. Several of

12267-435: The last name), and finally "People's Currency", or " renminbi ", from June 1949. From 1949 until the late 1970s, the state fixed China's exchange rate at a highly overvalued level as part of the country's import-substitution strategy. During this time frame, the focus of the state's central planning was to accelerate industrial development and reduce China's dependence on imported manufactured goods. The overvaluation allowed

12408-458: The last ¥0.5 and ¥1 issued in 1985. All jiǎo coins depicted similar designs to the fēn coins while the yuán depicted the Great Wall of China . In 1991, a new coinage was introduced, consisting of an aluminium ¥0.1, brass ¥0.5 and nickel - clad steel ¥1. These were smaller than the previous jiǎo and yuán coins and depicted flowers on the obverse and the national emblem on the reverse. Issuance of

12549-483: The late 1980s and early 1990s, China worked to make the renminbi more convertible. Through the use of swap centres, the exchange rate was eventually brought to more realistic levels of above ¥8/US$ 1 in 1994 and the FEC was discontinued. It stayed above ¥8/$ 1 until 2005 when the renminbi's peg to the dollar was loosened and it was allowed to appreciate. As of 2013, the renminbi is convertible on current accounts but not capital accounts . The ultimate goal has been to make

12690-463: The margins of the urban society. They are often blamed for rising crime and unemployment and, under pressure from their citizens, the city governments have imposed discriminatory rules. For example, the children of farm workers (Chinese: 农民工 ; pinyin: nóngmín gōng ) are not allowed to enroll in the city schools, and even now must live with their grandparents or other relatives to attend school in their hometowns. They are commonly referred to as

12831-569: The mass exodus of rural residents from the countryside in search of work impacted the children of migrant workers, it has also affected the elderly left behind. With the institution of the one-child policy in the 1970s, the average age in China has undergone an upward shift: 82% of migrant workers were between the ages of 15–44 in 2000. This has called into question the traditional custom of filial piety, and while retired urban workers are supported by government retirement programs, rural workers must rely on themselves and their families. It appears that

12972-441: The nearest yuan (such as ¥9 or ¥10). In 1953, aluminium ¥0.01, ¥0.02, and ¥0.05 coins began being struck for circulation, and were first introduced in 1955. These depict the national emblem on the obverse (front) and the name and denomination framed by wheat stalks on the reverse (back). In 1980, brass ¥0.1, ¥0.2, and ¥0.5 and cupro-nickel ¥1 coins were added, although the ¥0.1 and ¥0.2 were only produced until 1981, with

13113-457: The note has a tactile representation of the denomination in Chinese Braille starting from the fourth series. See corresponding section for detailed information. The fen and jiao denominations have become increasingly unnecessary as prices have increased. Coins under ¥0.1 are used infrequently. Chinese retailers tend to avoid fractional values (such as ¥9.99), opting instead to round to

13254-628: The official currency of the United Kingdom . Jiao and fen are also units of renminbi. In everyday Mandarin , kuai (Chinese: 块 ; pinyin: kuài ; lit. 'piece') is usually used when discussing money and "renminbi" or "yuan" are rarely heard. Similarly, Mandarin speakers typically use mao (Chinese: 毛 ; pinyin: máo ) instead of jiao. For example, ¥8.74 might be read as 八块七毛四 ( pinyin : bā kuài qī máo sì ) in everyday conversation, but read 八元七角四分 ( pinyin : bā yuán qī jiǎo sì fēn ) formally. Renminbi

13395-450: The official distinction between urban hukou and non-urban hukou within Beijing, meaning that all residents living in Beijing would be identified as Beijing residents regardless of their original hukou status. Having said that, in November 2017, the government of Beijing implemented a 40-day "clean-up" campaign which was claimed as a way of getting rid of the unsafe structures and shantytowns in

13536-402: The ones that attract rural migrants the most, given their extensive job opportunities. In this case, although the state has actively implemented many reform policies, the hukou rural/urban division still functions and represents a division system of life chances. Some scholars hence have argued that the hukou reforms indeed have not fundamentally changed the hukou system but have only decentralized

13677-419: The overall improvement in rural social welfare relative to that in cities have caused many rural residents to hesitate in converting their hukou status. Hukou is not employed in the special administrative regions of China ( Hong Kong and Macau ) though identification cards are mandatory for residents there. Instead, both SARs grant right of abode to certain persons who are allowed to reside permanently in

13818-685: The past few decades since the economic reform in 1978, the state of the People's Republic of China has taken steps toward reforming the hukou system by implementing a variety of reform policies. 1979-1991 can be identified as the first reform period. Specifically, in October 1984, the state issued "A Document on the Issue of Peasants Settling Down in Cities", which required local governments to integrate rural migrants as part of their urban population and to enable rural migrants to register in their migrant cities. In 1985,

13959-685: The people on the other side's territory as their citizens. However, citizenship rights are only available to the people under their own control respectively — this is defined by law as holding household registration in Taiwan Area (in the Republic of China ) or in Mainland Area (in the People's Republic of China ). Renminbi The renminbi ( Chinese : 人民币 ; pinyin : Rénmínbì ; lit. 'People's Currency'; symbol : ¥ ; ISO code : CNY ; abbreviation : RMB ), also known as

14100-427: The period before they get permanent resident status, though still a Chinese citizen , they cannot exercise citizen rights anywhere (like voting in elections, getting a passport) and are considered second-class citizens . The People's Republic of China (Mainland China) and the Republic of China (Taiwan) each claim the territories under the other's control as part of their respective state. Thus, legally, each treats

14241-436: The powers of hukou to local governments; and it still remains active and continues to contribute to China's rural and urban disparity. Meanwhile, others have also argued that by concentrating on cities, the hukou reforms have failed to target the poorer regions, where social welfare such as education and medical care are often not offered to the residents. Still, others seem excited, remarking that some cities have been offering

14382-645: The proposed ‘ tokenomics ’ being considered by the DCEP working group. Some patents show plans towards programmed inflation control mechanisms. While the majority of the patents are attributed to the PBOC's Digital Currency Research Institute, some are attributed to state-owned corporations or subsidiaries of the Chinese central government. Uncovered by the Chamber of Digital Commerce (an American non-profit advocacy group), their contents shed light on Beijing's mounting efforts to digitise

14523-560: The province. The difficulties faced by migrant children cause many to drop out, and this is particularly common in the middle school years: in 2010, only 30% of migrant children were enrolled in secondary education. Migrant children also disproportionately deal with mental health issues – 36% versus 22% among their local hukou counterparts – and 70% experience academic anxiety. They frequently face stigmatization and discrimination based on differences in how they dress and speak, and have difficulty interacting with other students. Not only has

14664-556: The real barriers to internationalisation of the renminbi are China's capital controls, which it has no plans to remove. Maximilian Kärnfelt, an expert at the Mercator Institute for China Studies , said that a digital renminbi "would not banish many of the problems holding the renminbi back from more use globally". He went on to say, "Much of China's financial market is still not open to foreigners and property rights remain fragile." The PBOC has filed more than 80 patents surrounding

14805-515: The regions. When a person with household registration in mainland China is settling in Hong Kong or Macau by means of a One-way Permit , they must relinquish their household registration, therefore losing citizen rights in mainland China. However, they need to settle in the SARs for seven years to be eligible for permanent resident status (which is associated with citizen rights) in the SARs. Therefore, in

14946-538: The renminbi , on 30 November 2015, the IMF voted to designate the renminbi as one of several main world currencies, thus including it in the basket of special drawing rights . The renminbi became the first emerging market currency to be included in the IMF's SDR basket on 1 October 2016. The other main world currencies are the dollar , the euro , sterling , and the yen . In October 2019, China's central bank, PBOC , announced that

15087-473: The renminbi became the first emerging market currency to be included in the IMF 's special drawing rights basket, the basket of currencies used by the IMF as a reserve currency. Its initial weighting in the basket was 10.9%. The ISO code for the renminbi is CNY , the PRC's country code (CN) plus "Y" from "yuan". Hong Kong markets that trade renminbi at free-floating rates use the unofficial code CNH . This

15228-441: The renminbi exchange rate has been allowed to float in a narrow margin around a fixed base rate determined with reference to a basket of world currencies . The Chinese government has announced that it will gradually increase the flexibility of the exchange rate. As a result of the rapid internationalization of the renminbi , it became the world's 8th most traded currency in 2013, 5th by 2015, but 6th in 2019. On 1 October 2016,

15369-450: The renminbi fully convertible. However, partly in response to the Asian financial crisis in 1998, China has been concerned that the Chinese financial system would not be able to handle the potential rapid cross-border movements of hot money , and as a result, as of 2012, the currency trades within a narrow band specified by the Chinese central government. Following the internationalization of

15510-493: The renminbi's official exchange rate was undervalued by as much as 37.5% against its purchasing power parity . However, more recently, appreciation actions by the Chinese government, as well as quantitative easing measures taken by the American Federal Reserve and other major central banks , have caused the renminbi to be within as little as 8% of its equilibrium value by the second half of 2012. Since 2006,

15651-552: The renminbi, which has sparked alarm in the West and spurred central bankers around the world to begin exploring similar projects. Some commentators have said that the U.S., which has no current plans to issue a government-backed digital currency, risks falling behind China and risking its dominance in the global financial system. Victor Shih , a China expert and professor at the University of California San Diego , said that merely introducing

15792-438: The rights and interests of citizens and to be of service to the establishment of socialism". The central government asserted that because rural areas had greater capacity to absorb and use excess labor, the majority of the population should be concentrated in these regions. Furthermore, free movement of people was considered dangerous, as it would lead to overpopulation of cities and could threaten agricultural production. Under

15933-865: The rural populace highly disadvantaged, and tragedies such as the famine of the Great Leap Forward primarily ravaged rural Chinese citizens. During the Great Chinese Famine from 1958 to 1962, having an urban versus a rural hukou could mean the difference between life and death. During this period, nearly all of the approximately 600 million rural hukou residents were collectivized into village communal farms, where their agricultural output -– after state taxes – would be their only source of food. With institutionalized exaggeration of output figures by local Communist leaders and massive declines in production, state taxes during those years confiscated nearly all food in many rural communes, leading to mass starvation and

16074-464: The same benefits as possessed by urban residents. However, with living outside the system now much more practical than it used to be, a number of migrant workers do not acquire the temporary residency permits – primarily because they do not have the resources or concrete employment offers to do so – and, as such, live in danger of being forced to return to the countryside. In 2014, the central government announced reform that among other things eliminated

16215-465: The second hukou reform period. There were various kinds of reform implemented by the state. Beginning in the late 1980s, one was to offer a "lan yin", or "blue stamp", hukou to those who possessed professional skills and/or ability to make some sort of investments (at least 100 million Renminbi yuan ) in specific cities (usually the big cities such as Shanghai ), allowing them to live in cities and enjoy urban welfare entitlements. This "blue stamp hukou"

16356-463: The special zones and districts. This policy hence made it easier for rural migrants to gain access to different urban opportunities in the special zones and districts. However, in 2003, the state published the "Administrative Permit Laws", which sent rural migrants back to their original residency in rural areas. Under this policy, rural migrants' life chances were once again determined by their hukou status. The third reform period began in 2014, when

16497-518: The state also allowed more groups of people to gain urban hukou, including children whose parent(s) had urban hukou, and the elderly whose child(ren) had been granted urban hukou. The third kind was applied to the special economic zones and districts that were established particularly for economic growth (such as Shenzhen). Specifically, in 1992, the state allowed all people living in the special economic zones and districts to carry two hukous: Their original hukou and another hukou related to their job in

16638-531: The state also implemented a policy called "Interim Provisions on the Management of Transient Population in Cities", which allowed rural migrants to stay in their migrant cities even if they had neither changed their hukou status nor returned to their original rural residency. In the same year, the state also published a document called "The Regulations on Resident Identity Card", which enabled rural migrants to work in cities even if they did not carry an identity card of urban status. However, what followed these policies

16779-458: The state has been putting effort into achieving their goals. For instance, the state has granted many left-behind children the right to attend urban schools so that they can reunite with their rural migrant parents; it has also offered many rural migrants job training. Moreover, in July of the same year, the government also published "Opinions on Further Promoting the Reform of the Hukou System" to abolish

16920-734: The state published and implemented the National New-Type Urbanization Plan (2014-2020) in March to tackle various problems derived from China's fast urbanization process. For instance, the plan aims to shorten the 17.3% gap between urban residents who live in cities but do not carry urban hukou and urban residents with urban hukou in 2012 by 2% by 2020. Meanwhile, the plan also intends to offer welfare entitlements to people who have rural hukou (from rural migrants to urban residents who carry rural hukou), including education, welfare housing, and health care to at least 90% (about 100 million) of migrants by 2020. In fact, with this plan,

17061-425: The steady expansion of cities, property values of land near cities have significantly increased. Owners of these tracts of land may elect to give up agriculture in favor of renting out their homes to migrant workers. Furthermore, with the continued process of urbanization, land owners near cities can expect the central government to buy their land for a handsome sum sometime in the future. These benefits combined with

17202-479: The system ( kou literally means "mouth", which originates from the practise of regarding family members as "mouths to feed", similar to the phrase " per head " in English). A household registration record officially identifies a person as a permanent resident of an area and includes identifying information such as name, parents, spouse and date of birth. A hukou can also refer to a family register in many contexts since

17343-457: The system in response to protests and a changing economic system, while some Western experts question whether these changes have been of substance. The formal name for the system is huji . Within the huji system, a hukou is the registered residency status of a particular individual in this system. However, the term hukou is used colloquially to refer to the entire system, and it has been adopted by English-language audiences to refer to both

17484-440: The system leads to a wealth transfer to the wealthier urban regions from the poorer regions on the public sector level. Intra-family payments from the working-age members to their relatives in the rural areas counteract that to some extent. With the loosening of restrictions on migration in the 1980s came a large influx of rural residents seeking better opportunities in the cities. However, these migrant workers have had to confront

17625-439: The total industrial outputs of Xiaolan and employed more than 30,000 people in 2002. Xiaolan's success in this sector earned it a certification as a critical hardware industrial base by China National Hardware Association in 2002. Meanwhile, a growth in the sector of electronic acoustics , which has taken place in recent years, has made Xiaolan the first "Electronic Acoustics Industrial Base" in China. Between 2000 and 2002, over

17766-475: The use of a dual exchange rate system, and the introduction and gradual expansion of markets for foreign exchange. The most important move to a market-oriented exchange rate was an easing of controls on trade and other current account transactions, as occurred in several very early steps. In 1979, the State Council approved a system allowing exporters and their provincial and local government owners to retain

17907-453: The years preceding its establishment were characterized by growing efforts by the Chinese Communist Party to assert control over its populace. In 1950, the Minister of Public Security, Luo Ruiqing , published a statement detailing his vision for the implementation of the hukou system in the new era. By 1954, rural and urban citizens had been registered with the state, and rigorous regulations on

18048-437: The ¥20 notes (added in 1999 with the fifth series) ¥50 and ¥100 notes (added in 1987 with the fourth series). Coins are available in denominations from ¥0.01 to ¥1 (¥0.01–1). Thus some denominations exist in both coins and banknotes. On rare occasions, larger yuan coin denominations such as ¥5 have been issued to commemorate events but use of these outside of collecting has never been widespread. The denomination of each banknote

18189-488: Was a devaluation of almost 100%. In the process of opening up China to external trade and tourism, transactions with foreign visitors between 1980 and 1994 were done primarily using Foreign exchange certificates ( 外汇券 , waihuiquan ) issued by the Bank of China . Foreign currencies were exchangeable for FECs and vice versa at the renminbi's prevailing official rate which ranged from US$ 1 = ¥2.8 FEC to ¥5.5 FEC. The FEC

18330-579: Was able to lose the imperial guards who were in pursuit of her. When she arrived in Xiaolan, the concubine and her helpers were so attracted to the area's landscape, which was scattered with yellow chrysanthemum flowers, that they decided to take up residence there. In June 2010, a strike broke out at a Honda Lock plant in Xiaolan, with workers demanded a wage increase from 930 RMB per month to 1,600 RMB per month. Reuters reported that striking workers were intimidated by police forces, and published an image which appeared to depict riot police being deployed near

18471-560: Was also established in Xiaolan Industrial Zone in 2002. Xiaolan is home to 45 kindergartens , 15 public primary schools , 5 secondary schools , and 10 private schools . The Xiaolan People's Hospital ( Chinese : 小榄人民医院 ; pinyin : Xiǎolǎn Rénmín Yīyuàn ), and the Chen Xinghai Hospital ( Chinese : 陈星海医院 ; pinyin : Chén Xīnghǎi Yīyuàn ) are both located in the town. 98.85% of Xiaolan's population

18612-421: Was also loosened and capital inflows to China surged. During the era of the command economy , the value of the renminbi was set to unrealistic values in exchange with Western currency and severe currency exchange rules were put in place, hence the dual-track currency system from 1980 to 1994 with the renminbi usable only domestically, and with Foreign Exchange Certificates (FECs) used by foreign visitors. In

18753-460: Was evaluated based on the prosperity of local residents and the local economy, they had little incentive to improve the migrant workers' quality of life. In 2008, the central government passed the Labor Contract Law, which guaranteed equal access to jobs, established a minimum wage, and required employers to provide contracts to full-time employees that included employment benefits. However,

18894-426: Was highly restricted, with official quotas at 0.15-0.2% per year and actual conversion rates at about 1.5%. In the following years, government oversight over the movement of people was expanded. In 1964, greater limits were imposed on migration to big cities, particularly major ones like Beijing and Shanghai, and in 1977 these regulations were furthered. Throughout this era, the hukou system was used as an instrument of

19035-596: Was issued as banknotes from ¥0.1 to ¥100, and was officially at par with the renminbi. Tourists used FECs to pay for accommodation as well as tourist and luxury goods sold in Friendship Stores . However, given the non-availability of foreign exchange and Friendship Store goods to the general public, as well as the inability of tourists to use FECs at local businesses, an illegal black market developed for FECs where touts approached tourists outside hotels and offered over ¥1.50 RMB in exchange for ¥1 FEC. In 1994, as

19176-496: Was linked to social policy, and those residents who held non-agricultural (i.e., urban) hukou status received benefits not available to their rural counterparts, and vice versa. Internal migration was also tightly controlled by the central government, and only in the past few decades have these restrictions been loosened. While this system has played a major role in China's fast economic growth, hukou has also promoted and aggravated social stratification and contributed significantly to

19317-440: Was not only a 30 million rural-to-urban migration, but also a phenomenon in which many false urban identity cards were sold to rural migrants for gaining urban benefits. It hence stimulated the state to implement another policy, "A Notice on Strictly Controlling Excessive Growth of 'Urbanization,'" in 1989 for regulating rural-to-urban migration. Under this policy, rural migrants were monitored again. 1992–2013 can be identified as

19458-740: Was significantly reduced in size, and in 2005 its composition was changed from aluminium to more durable nickel-plated steel. An updated version of these coins was announced in 2019. While the overall design is unchanged, all coins including the ¥0.5 are now of nickel-plated steel, and the ¥1 coin was reduced in size. The frequency of usage of coins varies between different parts of China, with coins typically being more popular in urban areas (with 5-jiǎo and 1-yuán coins used in vending machines), and small notes being more popular in rural areas. Older fēn and large jiǎo coins are uncommonly still seen in circulation, but are still valid in exchange. As of 2023, there have been five series of renminbi banknotes issued by

19599-675: Was state-sponsored. However, with Deng Xiaoping 's rise to power in 1978 came the initiation of reforms that steadily began to alleviate some of the disparity between agricultural and non-agricultural hukou holders. Restrictions have been loosened on movement from rural areas to smaller cities, although migration to large cities such as Beijing and Tianjin is still heavily regulated. Greater autonomy has also been ceded to local governments in deciding quotas and eligibility criteria for converting hukou status. Legislation has been enacted that allow migrant workers to obtain temporary residency permits, although these permits do not allow them access to

19740-415: Was the silver dragon dollar introduced in 1889. Various banknotes denominated in dollars or yuan were also introduced, which were convertible to silver dollars until 1935 when the silver standard was discontinued and the Chinese yuan was made fabi ( 法币 ; legal tender fiat currency ). The renminbi was introduced by the People's Bank of China in December 1948, about a year before the establishment of

19881-420: Was then conducted by many other big cities (including Nanjing , Tianjin , Guangzhou , and Shenzhen ) in 1999. The second kind was not applied to big cities but to certain selected towns and small cities. In 1997, the state implemented a policy that granted urban hukou to the rural migrants who had a stable job in their newly resided towns and small cities. Meanwhile, according to two 1997 government documents,

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