RMB (Renminbi)

The Renminbi (RMB) is the official currency of China, with the primary unit called the yuan. It functions as China's legal tender for transactions, savings, and trade. The currency is issued by China's central bank, the People's Bank of China, and its value influences economic activity both domestically and globally. The RMB is increasingly used in international trade and finance, reflecting China's growing economic importance. Its exchange rates are managed within the context of China's monetary policies, and the currency is represented by the symbol ¥ or written as CNY in international trade.