Jul 24 2008

The Chinese Yuan ￥ RMB 人民币

Published by admin at 5:51 am under Other

The Renminbi ( Chinese Yuan or RMB or CNY) is the unit of currency of the P.R China.  One RMB( or Kuai or Yuan)  is divided into 10 dimes(Jiao or Mao) or 100 cents (fen).
Since the establish of P.R. China in 1949, RMB has been using as official and legal currency in mainland China. ( HK, Macau, and Taiwan have their own currency in circulation  respectively, although RMB gains more and more popularity in these areas.)

Ren Min = People in Chinese
Bi = Money in Chinese
Together RenMinBi literally means People’s money.

The banknotes and coins are issued by the People’s Bank of China (中国人民银行）- the central bank.  But actually, you cannot find any branch of the People’s Bank of China. Most likely you will use Bank of China（中国银行）for your banking. Bank of China is one of China’s four state-owned commercial banks. And it is the state-designated specialized foreign exchange bank However, if you will stay in China for a long period of time rather than just a short visit; we recommend the China Merchants Bank(招商银行) which provides better and more innovated service to its customers. China Merchants Bank has branches in more than 30 major cities in China as well as in HKSAR with total business network over 400.

Now let’s take a look at the RMB
RMB 100 YUAN (the 1999 version)

RMB!00

RMB100back

RMB 100 Yuan (the 1987 version, but still in circulation)

RMB1002a

RMB1002b

 RMB 50 YUAN

RMB50a

RMB50b

RMB 20 YUAN

RMB20a

RMB20b

RMB 10 YUAN

RMB10a

RMB10b

RMB 5 YUAN

RMB5

RMB5b

RMB 1 YUAN

RMB1

RMB 50, 20 and 10 cents. ( NOT very useful,  A bottle of water costs more than 1 YUAN.)

RMBmao

COINS ( Most useful in Beijing subway to purchase tickets)

coins

Hope these information and images above are useful. Later we will talk about the banking service in Beijing and how to detect counterfeit RMB.
 

 


 

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