Huntwicke Capital Group Inc (ID) HCGI

RE:RE:This is news. Hong Kong exch to trade both CHN & USD

[R_J_]

“How much is that bottle of tequila?”
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“$50.”
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From the context, that may make sense to the actors.
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But we really don’t know.
Is that US Dollars, Canadian Dollars, Australian Dollars, Singapore Dollars, Hong Kong Dollars, or the Dollar of any one of 27 other States?
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So, to be more precise, one might say, "The bottle of tequila is $50 Canadian."
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It seems odd that Hong Kong [is it a part of China? ] was a British Colony for a hundred years.
The British use Pounds, but in Hong Kong, they use Dollars.
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“How much is that bottle of tequila?”
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“350 Yuan”
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Now in some ways that answer is sufficient.
One could say that it is “350 Chinese Yuan,” which may be useful to a western reader,
but since the Yuan, unlike the dollar, is the unit of currency of one State on this planet,
its modifier is redundant.
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[ We will leave the Taiwan {A.K.A. The Republic of China (who my dad flew airplanes for) } Dollar out of this conversation. ]
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So I pull out 350 Yuan that my dad gave me, and the merchant says,
” I don’t want that stuff from WWII, I only want Renminbi Yuan.”
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Investopedia: Yuan vs. RMB: Understanding the Difference
Quote:
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China’s currency is officially called the renminbi.
The yuan is the unit of account.
Renminbi translates to “the people’s currency” in Mandarin;
it was first issued in December of 1948 with the establishment of the People’s Bank of China.
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End Quote.
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RJ