CNY


Also found in: Acronyms.

CNY

The ISO 4217 currency code for Chinese Renminbi (Yuan).

CNY

ISO 4217 code for the Chinese renmimbi. It was introduced in Communist areas of China in 1948 during the Chinese Civil War, replacing multiple currencies previously in use. For much of its history, it was pegged to the U.S. dollar, which became especially important during the 1980s when China began opening itself to international trade. In 2005, the peg was changed to a currency basket, though the dollar remains important. In 2009, the Chinese government started to signal further dissociation from the dollar, though analysts disagree on how serious such moves are given the amount of dollar debt held by China.
References in periodicals archive ?
In pre-construction alone, CNY achieved a 16 percent reduction of the original budget through design assistance, engineering input and global sourcing.
Chinese currency trades as CNY in onshore markets and CNH in offshore markets.
Under the terms of the deal, it will pay an upfront cash payment of CNY 11bn ($1.
Cazazian brings extensive design management experience to CNY and will, play a key role in the growth of the construction and development services firm.
Chinese fixed-line operator China Netcom Corp is planning to issue CNY 5bn ($604m) in corporate bonds this year in order to fund network expansions ahead of an overseas listing next year.
CNY coordinated construction with NHK broadcast operations to ensure that the television station remained in continuous service.
8220;We are pleased to offer these CNY products as we see promising growth in the number of customers who are investing and trading in CNY,” Scott said.
The CNY currency-denominated account products will also enable affluent investors to diversify their currency portfolio and participate in the attractive China story by investing in a wide range of CNY denominated investments," added Sarkar.
Western Union Business Solutions' survey of more than 1,000 Chinese companies who are able to settle merchandise exports in CNY (known as mainland designated enterprises, or MDEs) reveals a desire in China to receive payments in their home currency.
The Chinese EGing Photovoltaic Technology is planning to invest CNY 862.
Adapting to the on-going liberalization of the CNY is especially significant when one considers the growth opportunities that exist for companies that do business with China.
At the same time, the shortage of dollars had not yet affected the CNY, which remained relatively stable.