Yuan Info Know China by her money

The Chinese yuan will become one of the most important currencies within the coming decades. With its fast growing economy, China's is a market full of business opportunities. This site gives insight in the Chinese economy and business etiquette, and China's history and language.

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Chinese Yuan

Article (source: Wikipedia)

The yuan is, in the Chinese language, the base unit of a currency. For example, the US dollar is Meiyuan. However, in an international context, yuan refers to the base unit of various Chinese currencies, including the renminbi (CNY) and the New Taiwan dollar (TWD).

One yuan is divided into 10 jiao or colloquially mao. One jiao is divided into 10 fen. In Cantonese, widely spoken in Hong Kong and Macau, jiao and fen are called ho and sin. Sin is a word borrowed into Cantonese from the English word cent.



Renminbi, the people's currency

Article (source: Wikipedia)

The renminbi is the official currency in the mainland of the People's Republic of China (PRC), whose principal unit is the yuan. It is issued by the People's Bank of China, the monetary authority of the PRC. The official ISO 4217 abbreviation is CNY, although also commonly abbreviated as "RMB".

The two special administrative regions, Hong Kong and Macau, have their own respective currencies. According to the one country, two systems principle and the basic laws of the two territories, national laws generally do not apply. Therefore, the Hong Kong dollar and the pataca remain the legal tenders in the two territories, and renminbi, although accepted, is not legal tender.



New Taiwan Dollar

Article (source: Wikipedia)

The New Taiwan dollar, or simply Taiwan dollar, is the official currency of the Republic of China (ROC) within the areas of Taiwan, Penghu, Kinmen, and Matsu since 1949. Originally issued by the Bank of Taiwan, it is now issued by the Central Bank of China since 2000.

Although the official English word for the currency is dollar, in Mandarin it is known as yuan. Colloquially, it is called a kuài in Mandarin or kho in Taiwanese. Subdivisions of a yuan are rarely used, since practically all products on the consumer market are being sold at whole units of yuan.