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The first countries that made money

 Money is a medium that acts as a medium and an alternative to minerals such as gold. Through it, commercial operations are conducted between a group of people; Where it is distinguished by its fundamental and influential role in the global economic system, and it also helps the continuation of the exchange, sale, purchase and production of products Where money is a benefit to societies, and contributes to promoting the growth and development of civilizations, and it is also possible to store money and provide it in banks, convert it into real estate, or buy precious metals there.


China is the first country to use money:

As China is considered the first country to use coins made of metal, and later it was able to move from relying on coins only to coins made of paper, and where the Chinese used paper bonds during the reign of the Tang family, and these banknotes were classified into notes of exchange and credit bonds, and China remained Used and relied upon for more than 500 years, and in the seventeenth century AD, the use of money moved to the continent of Europe, and the spread of money in all countries and regions of the world took nearly two centuries or a century.


China currency:

Where the yuan currency is the national currency of China, and it is called the renminbi in the local dialect, and this name is also an official name for the Chinese currency, as for the use of the yuan to denote the monetary unit of the currency, and the yuan helps maintain the economic power of China by linking it with the US dollar ; Where one dollar equals approximately 6.25 Chinese yuan.


China's economy:

  • As China contains many natural resources; However, its influence on the international economic system was limited until the end of the twentieth century AD. China strengthened its participation in the global economic sector in the late 1970s, and became one of the most influential countries in international trade. Which led to an increase in the growth and development of its gross domestic product; Whereas, individual companies in the private sector have become dependent on the Chinese economy to export and import products made on Chinese territory.

  • China's economy is considered one of the developed economic systems; Where he was keen to reduce dependence on agriculture only, and paid attention to directing attention to the industrial sector, so that technological and light industries became one of the most important industrial and economic priorities in China, and support for growth and economic development is among the other priorities that the Chinese government seeks to provide support to, as for the productive sector in China provides many products; agricultural production provides rice, for which China is one of the largest global producers, and also produces and exports cotton, soybeans, corn, tobacco, and wheat, as well as China produces many global mineral and industrial products, and is considered one of the important producers of oil and coal. .

  •  There are many banking and financial institutions in China, the most important of which is the Ministry of Finance and the People's Bank of China, which in the year 1950 AD became a substitute for the Central Bank of China, and the People's Bank was able to control the banking sector and the banks in it, and was keen to implement all the banking functions of central banks It contributes to the issuance of the yuan (RMB) and controls its trading operations, tracks expenses and accounts for receipts and expenditures, and has the responsibility to follow up on foreign trade operations.


Types of money:

Throughout history, many types of money were used in various monetary and commercial exchanges. Money has witnessed a development with the development of economic activities and businesses, and what follows information about the most important types of money that people used.


 Commodity money:
It was considered the first type of money, and it relied on using all commodities that people are familiar with. In order to work as an acceptable mediator in the exchange of money, it used many types of valuable commodities, such as cattle in the Greeks, elephants in Ceylon, and wheat in Egypt.


 Metal coins:

Where the use of a type of mineral; So do the work of money, such as bronze, lead, nickel, copper, and iron, but it does not work out over time; Because of the deterioration of its value, which made it lose the properties of money, the most important of which is the stability of its value.

 Credit money:

It is the type widely spread in modern financial and monetary systems, and there is no link between its commercial value and its nominal value. As its monetary value is much higher than the value of the materials that were used in its manufacture.

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