Renminbi

The Renminbi (RMB) is the official currency of China, with its primary unit called the yuan. It functions as the medium of exchange for goods, services, and financial transactions within China and internationally. The currency is issued and regulated by China's central bank, the People's Bank of China. The RMB's value is influenced by China's economic policies, trade activities, and global financial markets. It plays a crucial role in China's economy, affecting everything from daily purchases to international trade and investment. The currency is sometimes abbreviated as CNY in international contexts.