#AtoZChallenge in China: Rénmínbì (人民币 People's Currency)

It’s our #AtoZChallenge in China again, and today we take a quick look at China’s official currency, the Rénmínbì (人民币).


R is for Rénmínbì
The rénmínbì (RMB) literally means “people currency,” and prior to its current-day name (which was first issued by the Chinese government in 1948), the Chinese currency was called  Zhōngguó rénmíng yínháng quàn (中国-人民-银行-券 China-people-bank-voucher or People’s Bank of China note).
The Chinese currency is also called the Chinese Yuan (or CNY). So which one is correct?

In the world’s high-flying financial circles, the word “renminbi” (or RMB) is often preferred to “yuan” (or CNY, short for “Chinese Yuan”).
– Why China’s Currency Has Two Names, BBC News (June 2010)

Both actually is correct, but there’s some variation. Okay I’m not a numismatics expert but I’m basing this article on my experience, and of course with some credible sources. Inside China, it’s common to hear people use yuán (元, “circle,” owing to the shape of a coin) or kuài  (块 “piece” akin to “bucks”) when buying something or referring small denominations. Yī kuài (一元) is one RMB. It is composed of shíjiǎo (十角, 10 cents) or yībǎi fēn (一百分, 100 cents.) I have heard people using  kuài for values of 10 (ershí kuài 二十块 or 20…) but never for mixed values, say 76 or anything more than 100 or 1000 because they drop the kuài and use the word instead (qīshíliù 七十六 or yībǎi 一百). My Chinese friend, when referring prices in English, uses RMB, say “157 RMB” and never “157 yuán.“

There you have it! Next on #AtoZChallenge in China… we find out why using squat toilets is considered “healthful” for many locals.
Featured photo from maquake via Pixabay. Other photos from PublicDomainPictures and moerschy via Pixabay

See more of my #AtoZChallenge: Chinese Adventure