5.8 Use as a currency outside mainland China.4.4 Use in ethnic minority regions of China.4.3 Commemorative issues of the renminbi banknotes.3.3 Evolution of exchange policy since 1994.3.2 Transition to an equilibrium exchange rate.The renminbi is issued by the People's Bank of China, the monetary authority of China. One yuan divides into 10 jiao ( Chinese: 角 pinyin: jiǎo), and a jiao in turn divides into 10 fen ( Chinese: 分 pinyin: fēn). The yuan ( Chinese: 元 pinyin: yuán) is the basic unit of the renminbi, but the word is also used to refer to the Chinese currency generally, especially in international contexts. 'People's Currency' symbol: 元/ ¥ code: CNY) is the official currency of the People's Republic of China and one of the world's reserve currencies, ranking as the eighth most traded currency in the world as of April 2019. The renminbi ( abbreviation: RMB Chinese: 人民币 pinyin: Rénmínbì lit. "circle" (originally from the round shape of silver coins) " Renminbi" in Simplified (top) and Traditional (bottom) Chinese characters
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