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There are, in theory, more than 50000 Chinese characters. The good news is that more than 85% have become obsolete, or are rarely used. Like native speakers of many languages, most Chinese couldn't tell you how many characters are required to read a book and never bother to count how many characters they know. One may argue that junior students are supposed to learn at least 2000 characters and graduates in university 5000 characters.
To bridge the gap between recognizing and reading out loud, pinyin was developed, which uses