Renminbi: China's Currency

money · China · currency

Official Chinese Money. The renminbi is the currency used in China. It's the official money that people use to buy things, pay for services, and save their wealth.

Issued by the Bank. The People's Bank of China is responsible for creating and managing all the renminbi in circulation. This bank acts like the money manager for the entire country.

Fifth-Most Traded. As of April 2025, renminbi is the world's fifth-most-traded currency. This means lots of people around the globe exchange it for other currencies in money markets every single day.

Yuan and Fen. The renminbi is divided into units called yuan (the main unit) and fen (smaller units). One yuan can be broken into 100 fen, similar to how dollars have cents.

Used Beyond China. While it's China's main currency, renminbi is also used in the unrecognized territory of Wa State. This shows how influential China's currency is in certain regions.