The Dual Currency System in China: Cost and Benefit

Shmuel Z. Yahalom

Chinese Economy, 1991, vol. 24, issue 3, 72-81

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.

Date: 1991
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