A great website on China economy

http://www.chinability.com/index.html

 

Richard Yu, can you explain for me please the difference between the Yuan and the Renminbi, or are they the same. I don't do Forex, and this has been puzzling me. Thanks, and thanks for the link.

 

Essentially the same. Renminbi refers to the currency in general. The Yuan is the largest denomination, 1 Yuan is the equivalent of 10 Jiao, and 1 Jiao is equal to 10 Fen.

 

Name: Renminbi
1 Yuan = 10 jiao = 100 Fen


Name: USD
1 Dollar = 10 dimes = 100 cents

 

Thanks Steve and number22, that clears it up very nicely.