In the early days of the People's Republic of China, the basic unit of coins was ten thousand yuan, that is to say, the monetary unit at that time was ten thousand yuan, not yuan. This is mainly because in the early 1950s, one yuan RMB can be exchanged for ten thousand yuan old coins, which is the smallest monetary unit. In addition, in the early days of the founding of the People's Republic of China, influenced by the financial inflation in the Republic of China, the face value of the currency was relatively large, while the value of the national currency was only RMB, so RMB 10,000 was adopted as the basic unit.