Money and Payment

Introduction to RMB

Updated: Dec 11, 2018 Print
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The RMB plays an important role in China's currency culture. Since the founding of the People's Republic of China, five sets of RMB have been issued, forming a multi-variety and multi-series monetary system including paper currency and metal coins, ordinary commemorative coins and precious metal commemorative coins.

On October 1, 1999, the People's Bank of China issued the fifth set of RMB in eight denominations: 100 yuan, 50 yuan, 20 yuan, 10 yuan, 5 yuan, 1 yuan, 5 mao and 1 mao (a mao is one-tenth of a yuan).

All of the denominations of the fifth set of RMB adopt a head portrait of Chairman Mao Zedong in the early days of the founding of the People's Republic of China. Along the bottom of the notes there is a pattern of the famous flowers of China. The main patterns on the back show the Great Hall of the People, the Potala Palace, the landscape of Guilin, the Three Gorges of the Yangtze River, Mount Tai and Hangzhou West Lake. Through the selection of representative patterns with ethnic characteristics, China's long history and magnificent scenery have been fully demonstrated and its great national culture has been promoted.

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