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
$18.74
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
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
It’s as easy as open, fund, trade.
Open a Global Markets Portfolio
Start a Global Markets Portfolio with a Cash Account
Fund your account
Use your Cash Account as your funding source
Trade
Use your Global Markets Portfolio to buy or sell over 20 global currencies
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%
How to Open An Account
Buying and selling foreign currencies begin with a Global Markets High Yield Cash Account, which serves as the funding account for your currency transactions. Once it’s open, you will automatically receive a Global Markets Portfolio. This Portfolio will allow you to buy and sell any of the 20 foreign currencies available.
Global Markets
High Yield Cash Account
The High Yield Cash Account with Global Markets access delivers the typical features of a checking account but adds high yields for every dollar in your account.
On top of that, it serves as the launchpad to funding your precious metals and foreign currency transactions as well as access to all Global Markets Products.
- Use as the funding account for precious metals and foreign currency transactions
- ACH transfers to/from external accounts
- Free online bill pay
- Debit card with $30/month of ATM fee reimbursement if charged (Coming Soon)
- 1st order of checks complimentary
- $5 monthly fee waived, no minimum balance required
Currency Deposit
- $2,500 minimum initial trade per currency
- After initial trade, no minimum trade amount required
Currency CD
- $10,000 minimum initial trade per Currency CD
- After initial trade, no minimum trade amount required
Available Currencies
Need Support?
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