China
China
monetary system

Currency

Since its first issuance on December 1, 1948, the RMB has gone through five iterations, and anti-counterfeiting technology has continued to upgrade, covering multiple features such as watermarks and security threads.
RMB is the legal tender of the People's Republic of China and is uniformly printed and issued by the People's Bank of China. No unit or individual may refuse to accept debts paid through it.
The unit of RMB is "yuan", and the secondary currencies are "jiao" and "fen". Decimal conversion is implemented. Currently, the fifth set of RMB issued since 1999 is mainly in circulation.
Since its first issuance on December 1, 1948, the RMB has gone through five iterations, and anti-counterfeiting technology has continued to upgrade, covering multiple features such as watermarks and security threads.
The RMB includes banknotes and coins. The current circulation denomination ranges from 10 cents to 100 yuan. Some old versions of small coins are still in legal circulation.
As an important international currency, the RMB has been included in the IMF's Special Drawing Rights (SDR) currency basket and is the world's third largest payment currency and the second largest trade financing currency.
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