Chinese Yuan
Over the past two decades, China has seen the most GDP growth of any of the countries whose currencies we offer. It has the second-highest GDP1 in the world. It also rivals India for the largest population but should remain second for now given its lower fertility rate.
China exports technology globally. It has the third-highest-ranked digital infrastructure in the world. That helps it run regular surpluses. Its balance of trade has been rising over the past several years.
The Chinese currency has two names. The renminbi is the official currency of China. The yuan (CNH) is the principal unit of account for that currency.
China has signed agreements with many countries that allow for direct trade with its currency instead of converting to the dollar.
China is a member of the BRICS group of emerging market economies. It also has large gold reserves.
About China
GDP1
$18
Trillion
USD
Major Exports2
Equipment
Computers
Circuits
Major Export Partners2
U.S.
Hong Kong
Japan
Budget Deficit3
-7.4%
Trade Flows4
$957
Billion
USD
Pros and Cons of the Chinese Yuan
- Backed by one of the world’s largest economies5
- Growing role in global trade and finance6
- Managed stability7
- Not fully convertible6
- Heavy government intervention7
- Sensitive to geopolitical tensions and global sentiment8
1. https://tradingeconomics.com/country-list/gdp-per-capita
2. https://tradingeconomics.com/country-list/exports;?continent=g20
3. https://tradingeconomics.com/country-list/government-budget?continent=world
4. https://tradingeconomics.com/country-list/balance-of-trade
5. https://www.worldbank.org/ext/en/country/china
6. https://www.imf.org/en/countries/chn
7. https://www.cfr.org/articles/chinas-currency-now-facing-substantial-appreciation-pressure
8. https://www.everycrsreport.com/reports/RL33534.html
How to Buy the Chinese Yuan
Currency CD
Term
APY
3 Month
0.00%
6 Month
0.00%
9 Month
0.00%
12 Month
0.00%
Currency Deposit Account
$2,500 minimum initial trade per currency. After initial trade, no minimum trade amount required.
Balance
APY
All Balances
0.00%
Available Currencies
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