Renminbi (Chinese: \u4eba\u6c11\u5e01, Ren-Min-Bi, RMB, code: CNY) is the official currency of the People’s Republic of China.
Keeping this in consideration, is China currency yuan or renminbi?
; pinyin: yuán) is the basic unit of the renminbi, but is also used to refer to the Chinese currency generally, especially in international contexts where “Chinese yuan” is widely used to refer to the renminbi.
Also, what does China money look like? The official Chinese currency is the Renminbi (RMB or CNY). This translates as ‘the people’s money‘. The basic unit is the Yuan, and you will most commonly see it signified with the Chinese character ? in shops. The yuan itself comes in paper denominations of 100, 50, 20, 10, 5, and 1.
Similarly, why is Chinese currency called RMB?
“Renminbi” is the official name of the currency introduced by the Communist People’s Republic of China at the time of its foundation in 1949. It means “the people’s currency“. “Yuan” is the name of a unit of the renminbi currency.
Does China have two currencies?
China is not one to play by the rules when it comes to currency and so while most countries are happy with one currency, China has two. Confusingly, both are referred to as the yuan or renminbi and both have the same bank notes but, crucially, they are not worth the same.