Currently, the Renminbi (Chinese: 人民币), literally the People's currency, abbreviated to RMB, is the currency on the mainland of the People's Republic of China.
The units for the Renminbi are the Yuan (元), Jiao (角), Fen (分): 1 Yuan = 10 Jiao = 100 Fen. Fen have almost disappeared, so the coins in circulation are one yuan, five jiao, and one jiao. Banknotes range from one yuan to one hundred yuan, and vary both in size and color.
Hong Kong, Macao and Taiwan, the Republic of China have their own monetary policies and currencies that may not necessarily be compatible with the renminbi.
Currency has been used in China since the New Stone Age. The Chinese also invented paper money in the 9th century.
