The official Chinese currency is the Renminbi, RMB and the "Yuan", CNY is one of the currency’s units. The Peoples’ Bank of China is responsible for printing Yuan paper money. The Yuan banknotes are in one Yuan to one hundred Yuan denominations. This currency is circulated in mainland China, however Hong Kong has its own money, the Hong Kong Dollar.
Currently, the Yuan official value is not freely determined as this is controlled by the Peoples’ Bank of China, PBOC. Despite centralization, the Yuan is traded in major foreign financial markets and valued against a group or "basket" of currencies.
Chinese Yuan Banknotes in Circulation
China was the first nation to print paper currency and its notes have undergone various changes. The current edition of Chinese Yuan banknotes has been produced since October 1999. The notes come in denominations of 1, 5, 10, 20, 50 and 100 Yuan. These banknotes display a picture of Mao Zedong in colorful paper money. The notes’ denominations are printed in Chinese characters and Arabic numbers (western style).
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