Economy of China the stock in some firms. Lines of credit were extended by CFS to 21 securities firms, some of which also purchased up to 5% of some companies stocks. Some of the small cap stocks acquired may be overvalued. Chinese stocks fell about 10% during the last week of July 2015 with record breaking losses on Monday. The renminbi ("people's currency") is the currency of China, denominated as the yuan, subdivided into 10 jiao or 100 fen. The renminbi is issued by the People's Bank of China, the monetary authority of China. The ISO 4217 abbreviation is CNY, although also commonly
Cent (currency) Cent (currency) In many national currencies, the cent, commonly represented by the cent sign (a minuscule letter "c" crossed by a diagonal stroke or a vertical line: ¢; or a simple "c") is a monetary unit that equals of the basic monetary unit. Etymologically, the word "cent" derives from the Latin word "centum" meaning hundred. "Cent" also refers to a coin worth one cent. In the United States, the 1¢ coin is generally known by the nickname "penny", alluding to the British coin and unit of that name. In the European Union, coins designs are chosen nationally, while the reverse