• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On May 19, by the location of business units, in April, the retail sales of consumer goods in urban areas was 3237.6 billion yuan, a year-on-year increase of 5.2%; the retail sales of consumer goods in rural areas was 479.8 billion yuan, an increase of 4.7%. From January to April, the retail sales of consumer goods in urban areas was 14043.3 billion yuan, an increase of 4.7%; the retail sales of consumer goods in rural areas was 2141.2 billion yuan, an increase of 4.8%. By consumption type, in April, the retail sales of goods was 3300.7 billion yuan, a year-on-year increase of 5.1%; catering revenue was 416.7 billion yuan, an increase of 5.2%. From January to April, the retail sales of goods was 14365.1 billion yuan, an increase of 4.7%; catering revenue was 1819.4 billion yuan, an increase of 4.8%. By retail formats, from January to April, the retail sales of convenience stores, specialty stores, supermarkets, department stores and brand stores in retail units above the limit increased by 9.1%, 6.4%, 5.2%, 1.7% and 1.4% year-on-year respectively.On May 19, from January to April, the sales area of new commercial housing was 282.62 million square meters, a year-on-year decrease of 2.8%, and the decline was narrowed by 0.2 percentage points compared with January to March; among them, the sales area of residential housing decreased by 2.1%. The sales of new commercial housing was 2703.5 billion yuan, a decrease of 3.2%; among them, the sales of residential housing decreased by 1.9%. At the end of April, the area of commercial housing for sale was 781.42 million square meters, a decrease of 5.22 million square meters from the end of March. Among them, the area of residential housing for sale decreased by 4.55 million square meters.According to May 19th news, in April, the total retail sales of consumer goods reached 3717.4 billion yuan, a year-on-year increase of 5.1%. Among them, the retail sales of consumer goods other than automobiles reached 3354.8 billion yuan, an increase of 5.6%. From January to April, the total retail sales of consumer goods reached 16184.5 billion yuan, an increase of 4.7%. Among them, the retail sales of consumer goods other than automobiles reached 14700.5 billion yuan, an increase of 5.2%.Preview: The National Development and Reform Commission is scheduled to hold a May press conference at 10:00 a.m. on May 20 in the conference room on the third floor of the central building of the National Development and Reform Commission.The Hang Seng Indexs early losses widened to 1%, and the Hang Seng Tech Index now fell 1.81%.

What Exactly Is Money?

Drake Hampton

Mar 25, 2022 14:29

Money is an economic unit that serves as a universally recognized means of exchange in an economy for transactional purposes. Money serves the purpose of lowering transaction costs, namely the double coincidence of desires. Money starts as a commodity, with the physical properties necessary for market players to accept it as a means of trade. Money may take the form of market-determined legal tender or fiat moneys, money substitutes and fiduciary media, or electronic cryptocurrencies.

 

截屏2022-03-25 下午12.03.51.png

Recognize Money 

Currency is a term that is frequently used to refer to money. Each government has its own money system economically. Cryptocurrencies are also being created for use in global finance and international exchange.

 

Money is a highly liquid asset that is used to settle transactions. It operates on the basis of widespread acceptance of its worth inside a governmental economy and on a global scale via foreign exchange. Currency's present worth is not always determined by the materials used to create the note or coin. Rather than that, value is generated from the willingness to agree to and rely on a shown value in future transactions. This is the basic role of money: to serve as a universally recognized medium of exchange that individuals and global economies wish to hold and are ready to accept as payment for current or future transactions.

 

Economic money systems began to evolve in order to serve as a medium of trade. Money as a medium of exchange offers a centralized means of exchange for buying and selling in a market. This was first intended to take the role of bartering. Monetary currency contributes to the development of a mechanism for resolving the double coincidence of desires. The double coincidence of desires is a pervasive problem in a barter system, because each party must possess something the other party desires in order to trade. When all parties agree on and accept a monetary currency, this difficulty is avoided.

 

Currency should be fungible, durable, portable, recognizable, and stable in order to be used as money. These features ensure that the advantage of lowering or eliminating the transaction cost associated with the double coincidence of desires is not offset by other sorts of transaction costs connected with that particular item.

Fungible

The units of the good should be of reasonably consistent quality in order to be interchangeable. If various units of the good have varying characteristics, its value in future transactions may be unpredictable or inconsistent. Attempting to utilize a non-fungible item as money incurs transaction costs associated with the process of individually appraising each unit of the commodity prior to a trade.

Durable

The physical characteristics of the good should be sufficiently durable to ensure that it retains its use in subsequent exchanges and may be reused several times. A perishable item or one that degrades rapidly throughout exchanges will be less valuable in subsequent deals. Attempting to utilize an impermanent good as money runs counter to money's fundamentally future-oriented use-value.

Portable

It should be divided into tiny quantities such that people value the item's original purpose highly enough that a useful quantity of the good can be carried or transferred conveniently. An indivisible good, an immobile item, or a good with a low initial usage value might cause complications. Attempting to utilize an immobile or indivisible good as money may result in transaction costs associated with either physically carrying large amounts of the low-value product or defining practical, transferable ownership of an immobile or indivisible object.

Recognizable

The users should be able to simply verify the legitimacy and amount of the product in order to agree on the conditions of an exchange. Attempting to utilize an unrecognizable good as money incurs transaction costs associated with all parties to an exchange agreeing on the legitimacy and amount of the commodities.

Stable

The relative value that individuals place on an item in relation to the other things for which they are prepared to trade should remain roughly constant or increase over time. A good whose value fluctuates significantly over time or persistently depreciates over time is less acceptable. Attempting to use a non-stable good as money entails transaction costs associated with repeatedly revaluing the good in subsequent transactions, as well as the risk that the exchange value of the good will fall below its other direct use value or become unusable altogether, at which point it will cease to circulate as money.

Suggestion