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Chinese yuan

China's official currency is known as the Renminbi but is often referred to as the Chinese Yuan. Renminbi is the official name given by the Communist People's Republic of China in 1949. "Renminbi" means "The People's currency." The Yuan is a subunit of the Renminbi currency with one Yuan being made up of 10 Jiǎo (角) and a Jiǎo is made up of 10 Fēn (分). Renminbi banknotes come in denominations of ¥0.1, ¥0.2, ¥0.5, ¥1, ¥2, ¥5, ¥10, ¥20, ¥50 and ¥100 and coins of ¥0.01, ¥0.02, ¥0.05, ¥0.1, ¥0.5 and ¥1.