21/07/2021
The yuan is the basic unit of the Chinese monetary system, the renminbi (Chinese: 人民币, "people's money" in Latin spelling renminbi (RMB)). International currency designation according to ISO 4217 - CNY. Symbol: ¥. One yuan is divided into 10 jiao (() , which in turn is divided into 10 fen (分). For example, the amount of 3.14 yuan is pronounced as san yuan yi jiao xi feng (三元 一角 四分), "three yuan one jiao four fenya". The words jiao and feng also denote decimal prefixes 10−1 and 10−2, respectively. In everyday language, kuai (块) is also used instead of the word "yuan" to denote price, and mao (毛) is used instead of "jiao". Coins of 1, 5 Jiao and 1 Yuan are in circulation. Coins of the smallest denominations of 1, 2, 5 hair dryers being solvent in circulation is almost impossible to find. Banknotes of 1, 5, 10, 20, 50 and 100 yuan of various issues are also in circulation. The new type of coins and banknotes of the 2019 model will eventually become predominant, gradually displacing previous issues.
