China’s renminbi (RMB) may become the world’s fourth most-used international currency, replacing the Japanese yen. The International Monetary Forum had raised the RMB Internationalisation Index from 0.02 in 2009 to 2.47 in 2014. The top three currencies are the dollar, the euro and the British pound. Cross-border RMB flow reached 6.55 trillion in 2014, seeing a rise of 41.6 percent. In January 2014, RMB had surpassed the Swiss franc to become the seventh most-used currency in the world. RMB had now become the world’s second trade-finance currency, fifth payment currency, and sixth foreign-exchange currency.
Facts About China
- China is the fourth largest country in the world (after Russia, Canada, and the US).
- Toilet paper was invented in China in the late 1300s. It was for emperors only.
- The Great Wall of China is the largest man made structure in the world, stretching an incredible 8,850 kilometres (5,500 miles).
- In 2003, China became the third country to successfully send a person to space.
- China has the fourth longest river in the world, the Yangtze River, which reaches 5,797km (3,602 miles) in length.
Test Your Knowledge
What is the other name of Renminbi?
