Chinese gold yuan

High school (ages 12+)
People & Society

Name:

Date:

Step 1 · Read the article

Open the article and read it at the level above. Then answer the questions below in your own words.

https://smallwhale.org/articles/chinese-gold-yuan

1. What money is used in Chinese gold yuan?
2. Who wrote Chinese gold yuan?
3. What is the official exchange rate (initial)?
4. What is the period of circulation?
5. What was the Chinese Gold Yuan and when did it start?
6. Why did the government ask people to trade their gold and silver for the new notes?

Write what each word means, using the article.

Do not copy the article. Write two things you learned, the way you would explain them to a friend.

Answers below are taken from the article’s stored facts, so they match what the student read.

1. What money is used in Chinese gold yuan?Chinese Gold Yuan (Jinyuan)
2. Who wrote Chinese gold yuan?Government of the Republic of China
3. What is the official exchange rate (initial)?0.22217 grams of gold per Gold Yuan
4. What is the period of circulation?August 19, 1948 – 1949
5. What was the Chinese Gold Yuan and when did it start?The Chinese Gold Yuan was a new paper money introduced by the Republic of China on August 19, 1948. It was meant to help pay for the war.
6. Why did the government ask people to trade their gold and silver for the new notes?The government wanted all the gold in the country so it could be used for the war and a possible move to Taiwan. They thought it would make the money stronger.

Legal Tender: A medium of payment recognized by a legal system to be valid for meeting a financial obligation.
Hyperinflation: Inflation that is extremely rapid; prices increase so fast that the currency loses its value very quickly.
Economic Stabilization: Measures taken by a government to prevent or correct severe economic downturns or instability.
Monetary Policy: Actions undertaken by a central bank to manipulate the money supply and credit conditions to stimulate or restrain economic activity.