What Is Chinese Currency?

The legal currency of the People's Republic of China is the Renminbi, and the People's Bank of China is the state's competent authority for administering the Renminbi. It is responsible for the design, printing, and distribution of the Renminbi. The unit of Renminbi is Yuan, and the unit of Renminbi is Jiao and Min. One yuan is equal to ten cents, and one cent is equal to ten cents. Since the People's Republic of China issued RMB, it has taken more than 50 years. Five sets of RMB have been issued so far, forming a currency system of many varieties and series such as banknotes and metal coins, ordinary commemorative coins and precious metal commemorative coins.

Chinese currency

The legal currency of the People's Republic of China is Renminbi, Hong Kong Special Administrative Region Hong Kong Dollar, Macau Special Administrative Region Macau Pataca, and Taiwan New Taiwan Dollar.

Since the first set of ordinary commemorative coins was issued in 1984, a total of 63 sets of 75 (common) ordinary commemorative coins have been issued, with a total circulation of about 850 million. These commemorative coins have a variety of topics, unique design, various specifications and materials, and novel and beautiful patterns. The denominations range from 1 yuan, 1 yuan, 5 yuan, 10 yuan, 50 yuan, and 100 yuan. The glorious achievements and major historical events are concentrated in the square inches of the commemorative coins. These commemorative coins are an important part of the RMB series. They have enriched and improved the Chinese currency system, promoted the Chinese currency culture, and continued to explore and innovate. They have played a positive role in promoting commodity circulation and economic development, and expanding foreign exchanges. ^[2]