scroll to top
Stuck on your essay?
Get ideas from this essay and see how your work stacks up
Word Count: 1,922
China with a population of more than one billion people is a country full of marketing potential With so many possible consumers it would seem like any product could reach its target audience However with a country so rich in history and culture there are many factors to be considered by marketers Some of the most important and influential elements the currency system market agreements and environmental factors of the country must be further examined Currency System Turning our attention to the currency of China copper and iron were used but found to be too heavy to carry and transport and copper was becoming scarce In the ninth century China came up with the invention of paper money It was originally known as Flying Money because it was so light compared to the heavy coins previously used It also was said that it could fly out of your hands In 1024 the Song government took over the printing of paper money and made official certificates used for currency In Chinese Renminbi means Peoples Currency The Renminbi is the sole legal currency of the Peoples Republic of China Chinese currency is based on the decimal system and consists of paper and coinage The smallest coin is one fen ten fen make up a jiao also called mao and ten jiao or mao make up a yuan The paper form of Chinese currency comes in ten denominations 1 jiao 2 jiao 5 jiao 1 yuan 2 yuan 5 yuan 10 yuan 20 yuan 50 yuan and 100 yuan These denominations can all be seen on the following pages A different set of Chinese characters is used for numbers on banknotes and other financial dealings The Chinese use this system because ordinary Chinese numbers are easy to write and therefore easy to forge Money exchange is sponsored by The Bank of China and is set up in airports hotels and tourist stores No foreign currency is allowed to
@Kibin is a lifesaver for my essay right now!!
- Sandra Slivka, student @ UC Berkeley
Wow, this is the best essay help I've ever received!
- Camvu Pham, student @ U of M
If I'd known about @Kibin in college, I would have gotten much more sleep
- Jen Soust, alumni @ UCLA