The Renminbi (Chinese: 人民币) is the official currency of the People's Republic of China (PRC).
It is the legal tender in mainland China, but not in Hong Kong and Macau. It is abbreviated as RMB, and the units for the Renminbi are the Yuan (元), Jiao (角), and Fen (分): 1 Yuan = 10 Jiao = 100 Fen. Fen have almost disappeared, so the coins in circulation are one yuan, five jiao, and one jiao. Banknotes range from one jiao to one hundred yuan, and vary both in size and colour. The distinction between the Renminbi and the Yuan is similar to the distinction between the British Sterling and Pound. Renminbi refers to the whole Chinese money system whereas Yuan is the base unit of Renminbi. Yuan is used to denominate bills, and is the unit in which prices are measured.
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