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The Dual Currency System in China: Cost and Benefit

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  • Shmuel Z. Yahalom

Abstract

The People's Republic of China has a dual local currency system. The common currency for the Chinese is the >i>renminbi>/i> (RMB). Foreigners are expected to use the Foreign Exchange Certificate (FEC). The FECs were introduced on April 1, 1980.

Suggested Citation

  • Shmuel Z. Yahalom, 1991. "The Dual Currency System in China: Cost and Benefit," Chinese Economy, Taylor & Francis Journals, vol. 24(3), pages 72-81, April.
    • Handle: RePEc:mes:chinec:v:24:y:1991:i:3:p:72-81
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