The Renminbi is the official currency of the People's Republic of China (PRC). Renminbi is legal tender in mainland China, but not in Hong Kong or Macau. It is issued by the People's Bank of China, the monetary authority of the PRC. Its name means "people's currency".
The primary unit of renminbi is the yuán (元). One yuan is subdivided into 10 jiǎo (角), which in turn is subdivided into 10 fēn (分). Renminbi banknotes are available in denominations from 1 jiao to 100 yuan (¥0.1–100) and coins have denominations from 1 fen to 1 yuan (¥0.01–1). Thus, some denominations exist in coins and banknotes, but they are usually used in coins if under ¥1. Coins under ¥0.1 are used infrequently.
Obverse: Portrait of Mao Tse-tung (1893-1976);
blooming lotus
blooming lotus
Reverse: Li River karst mountain peaks near Yangshuo
in Guilin, Guangxi Province
Watermark: Lotus flower
Many thanks to Elaine H. from Hong Kong.
