The USDCNY increased 0.0137 or 0.19% to 7.2796 on Wednesday March 26 from 7.2658 in the previous trading session. Chinese Yuan - values, historical data, forecasts and news - updated on March of 2025.

In February 2025, the exchange rate of yuan to U.S. dollar was 7.17. In the past decades, the yuan has undergone a slow liberalization, being increasingly exposed to the international money market. FOREX history of the Renminbi After the Communist Party took control over China it introduced a unified currency which has since then undergone many changes. During the planned economy, the yuan had a fixed exchange rate. At the time, the currency’s exchange rate was deliberately set high to support the industrial development, which relied on imports. After the country committed to opening its economy, the Renminbi was gradually exposed to the supply and demand of the global FOREX markets. Until 2005, the yuan remained pegged to the U.S. dollar. Currency manipulator, or not? As China manifested its role in the global economy, the country was repeatedly accused of manipulating the value of its currency. Especially, voices from the United States claimed that Beijing would intentionally keep the value of the yuan low. A cheap Renminbi would make products from China more attractive for foreign buyers which in turn would support the country’s export-driven economy. However, currency manipulation is difficult to make out and even harder to prove, which is why no significant actions have been taken.

Long term historical dataset of the daily U.S. Dollar - Chinese Yuan (USDCNY) exchange rate back to 1981.

Graph and download economic data for Chinese Yuan Renminbi to U.S. Dollar Spot Exchange Rate (DEXCHUS) from 1981-01-02 to 2025-03-21 about China, exchange rate, currency, rate, and USA.

Prices for USDCNY US Dollar Chinese Yuan including live quotes, historical charts and news. USDCNY US Dollar Chinese Yuan was last updated by Trading Economics this March 27 of 2025.

This study provides quarterly time-series estimates of the misalignment in the REER of the Renminbi (RMB). The estimation is based on a commonly used economic approach, but with a wider and more up-to-date coverage of data and a more extensive use of econometric modelling techniques. Our estimates corroborate and explain most of the previous estimates. More importantly, our estimates demonstrate that there is no significant undervaluation in the REER of the RMB though downward misalignment exists in the trilateral rates between the RMB, US$ and euro. The finding refutes the claim that RMB appreciation is the primary and necessary solution to the current global trade imbalance.

Germany Exchange Rates Expectation: Chinese Yuan: Appreciate data was reported at 12.200 % in Jan 2025. This records a decrease from the previous number of 17.900 % for Dec 2024. Germany Exchange Rates Expectation: Chinese Yuan: Appreciate data is updated monthly, averaging 16.400 % from Apr 2021 (Median) to Jan 2025, with 46 observations. The data reached an all-time high of 35.000 % in Mar 2022 and a record low of 10.100 % in Nov 2023. Germany Exchange Rates Expectation: Chinese Yuan: Appreciate data remains active status in CEIC and is reported by Leibniz Centre for European Economic Research. The data is categorized under Global Database’s Germany – Table DE.S001: Indicator of Economic Sentiment: ZEW.

In 2023, the gross domestic product (GDP) of China amounted to around 17.8 trillion U.S. dollars. In comparison to the GDP of the other BRIC countries India, Russia and Brazil, China came first that year and second in the world GDP ranking. The stagnation of China's GDP in U.S. dollar terms in 2022 and 2023 was mainly due to the appreciation of the U.S. dollar. China's real GDP growth was three percent in 2022 and 5.2 percent in 2023. In 2023, per capita GDP in China reached around 12,600 U.S. dollars. Economic performance in China Gross domestic product (GDP) is a primary economic indicator. It measures the total value of all goods and services produced in an economy over a certain time period. China's economy used to grow quickly in the past, but the growth rate of China’s real GDP gradually slowed down in recent years, and year-on-year GDP growth is forecasted to range at only around four percent in the years after 2023. Since 2010, China has been the world’s second-largest economy, surpassing Japan.China’s emergence in the world’s economy has a lot to do with its status as the ‘world’s factory’. Since 2013, China is the largest export country in the world. Some argue that it is partly due to the undervalued Chinese currency. The Big Mac Index, a simplified and informal way to measure the purchasing power parity between different currencies, indicates that the Chinese currency yuan was roughly undervalued by 31 percent in 2023. GDP development Although the impressive economic development in China has led millions of people out of poverty, China is still not in the league of industrialized countries on the per capita basis. To name one example, the U.S. per capita economic output was more than six times as large as in China in 2023. Meanwhile, the Chinese society faces increased income disparities. The Gini coefficient of China, a widely used indicator of economic inequality, has been larger than 0.45 over the last decade, whereas 0.40 is the warning level for social unrest.

In 2021, the average price of residential housing sold in Shanghai, the most important economic hub of China, surpassed 37,400 yuan per square meter, making the city one of the least affordable cities in the country. The housing market boom Since the housing reform in the 1990s, the prices of homes in Shanghai have increased almost every year, thanks to the growth of the city’s population and, thus, the high demands in the housing market. The high property prices gradually became out of reach for most residents, who earn an annual per capita income of only 172,000 yuan. Residential properties in the city center were especially unaffordable, as newly built homes located within Shanghai's inner ring road had an average price of 123,590 yuan in 2021, three times more expensive than their counterparts outside the outer ring road. Risks and interventions The high price not only made living in the city expensive for its residents, but also posed a grave risk to China’s financial system. In the first 20 years of this century, the total value of personal housing mortgage loans in Shanghai increased by more than 20 times, and defaults of any moderate scale can be consequential. Therefore, both the central and the municipal authorities had been attempting to curb the continuous rise of property costs in Shanghai, through the increase in the supply of housing stocks and policies limiting speculations in the market. However, most measures were not as effective as anticipated.

5.932,31 (100 million yuan) in 2021. Local Government General Budget Revenue, includes total tax revenue and total non-tax revenue.Total tax revenue includes value-added tax, business tax, corporate income tax,individual income tax, resource tax, city maintenance and construction tax, house property tax, stamp tax, urban land use tax, land appreciation tax,tax on vehicles and boat operation,farm and land occupation tax, deed tax, tobacco leaf tax, other tax revenue .Total non-tax revenue includes special program receipts,charge of administrative and institutional units,penalty receipts and other non-tax receipts.

2.285,45 (100 million yuan) in 2021. Local Government General Budget Revenue, includes total tax revenue and total non-tax revenue.Total tax revenue includes value-added tax, business tax, corporate income tax,individual income tax, resource tax, city maintenance and construction tax, house property tax, stamp tax, urban land use tax, land appreciation tax,tax on vehicles and boat operation,farm and land occupation tax, deed tax, tobacco leaf tax, other tax revenue .Total non-tax revenue includes special program receipts,charge of administrative and institutional units,penalty receipts and other non-tax receipts.

14.105,04 (100 million yuan) in 2021. Local Government General Budget Revenue, includes total tax revenue and total non-tax revenue.Total tax revenue includes value-added tax, business tax, corporate income tax,individual income tax, resource tax, city maintenance and construction tax, house property tax, stamp tax, urban land use tax, land appreciation tax,tax on vehicles and boat operation,farm and land occupation tax, deed tax, tobacco leaf tax, other tax revenue .Total non-tax revenue includes special program receipts,charge of administrative and institutional units,penalty receipts and other non-tax receipts.

2.245,99 (100 Million Yuan) in 2021. Tax Revenue include value-added tax, business tax, corporate income tax, corporate income tax reimbursement,individual income tax, resource tax, fixed asset investment regulation tax, city maintenance and construction tax, house property tax, stamp tax, urban land use tax, land appreciation tax,tax on vehicles and boat operation,farm and land occupation tax, deed tax, tobacco leaf tax, other tax revenue

In 2023, the value of personal housing loans in China amounted to 38.17 trillion yuan, representing a slight drop of 1.6 percent compared to the previous year. The overall value of outstanding mortgages more than doubled between 2016 and 2021 before it plateaued afterwards.

A key factor to the growth of the real estate market China's personal housing loan market emerged in the 1990s in tandem with the marketization of the country's real estate sector. Its subsequent expansion also mirrored the growth in the property industry. Thanks to the dramatic rise in home prices across China since the early 2000s, substantial capital has poured into the market through real estate development loans and personal housing credits. For almost two decades, many Chinese middle class citizens accumulated their personal wealth through the considerable appreciation of their properties, which they financed with the help of mortgages.

Risks The persistently high level of outstanding personal mortgage is becoming increasingly concerning amidst China’s current economic and market situation. With the country’s economic slowdown and the oversupply in the property sector, the housing market is losing steam, resulting in elevated risks of bad debts to financial institutions. At the same time, the household debt in China is now staying above 60 percent of the country’s GDP, undermining the ability to consume and invest in the Chinese population.

2.237,04 (100 Million Yuan) in 2021. Tax Revenue include value-added tax, business tax, corporate income tax, corporate income tax reimbursement,individual income tax, resource tax, fixed asset investment regulation tax, city maintenance and construction tax, house property tax, stamp tax, urban land use tax, land appreciation tax,tax on vehicles and boat operation,farm and land occupation tax, deed tax, tobacco leaf tax, other tax revenue

1.191,09 (100 Million Yuan) in 2021. Tax Revenue include value-added tax, business tax, corporate income tax, corporate income tax reimbursement,individual income tax, resource tax, fixed asset investment regulation tax, city maintenance and construction tax, house property tax, stamp tax, urban land use tax, land appreciation tax,tax on vehicles and boat operation,farm and land occupation tax, deed tax, tobacco leaf tax, other tax revenue

1.543,40 (100 Million Yuan) in 2021. Tax Revenue include value-added tax, business tax, corporate income tax, corporate income tax reimbursement,individual income tax, resource tax, fixed asset investment regulation tax, city maintenance and construction tax, house property tax, stamp tax, urban land use tax, land appreciation tax,tax on vehicles and boat operation,farm and land occupation tax, deed tax, tobacco leaf tax, other tax revenue

667,41 (100 Million Yuan) in 2021. Tax Revenue include value-added tax, business tax, corporate income tax, corporate income tax reimbursement,individual income tax, resource tax, fixed asset investment regulation tax, city maintenance and construction tax, house property tax, stamp tax, urban land use tax, land appreciation tax,tax on vehicles and boat operation,farm and land occupation tax, deed tax, tobacco leaf tax, other tax revenue

809,41 (100 million yuan) in 2021. Tax Revenue include value-added tax, business tax, corporate income tax, corporate income tax reimbursement,individual income tax, resource tax, fixed asset investment regulation tax, city maintenance and construction tax, house property tax, stamp tax, urban land use tax, land appreciation tax,tax on vehicles and boat operation,farm and land occupation tax, deed tax, tobacco leaf tax, other tax revenue

1.618,61 (100 million yuan) in 2021. Local Government General Budget Revenue, includes total tax revenue and total non-tax revenue.Total tax revenue includes value-added tax, business tax, corporate income tax,individual income tax, resource tax, city maintenance and construction tax, house property tax, stamp tax, urban land use tax, land appreciation tax,tax on vehicles and boat operation,farm and land occupation tax, deed tax, tobacco leaf tax, other tax revenue .Total non-tax revenue includes special program receipts,charge of administrative and institutional units,penalty receipts and other non-tax receipts.