About China's CurrencyChina's currency's official name is the renminbi (RMB).
In Chinese, this means "people's currency".
More commonly, the renminbi is referred to as the yuan.
Cash in China - Bank Notes and Coins100 yuan is the largest bank note available in China. This is currently worth around US$13.
Just as many countries have dollars and cents, and the UK has pounds and pence, China has a smaller unit of currency than the yuan.
One yuan is worth ten jiao. Unlike most other counties, the jiao can also be subdivided. One jiao is worth ten fen. So one fen is worth one hundredth of a yuan in the same way that one cent is worth one hundredth of a dollar. One jiao is worth one tenth of a yuan.