How money works in China
All about that dollar…. *Yuan Currency The Chinese currency is the Ren Min Bi (lit. people’s currency). However people also refer to the currency as the Chinese Yuan. To complicate things further, in China, you will often hear the word ‘Kuai’, meaning ‘piece’ used to refer to money. Kuai is a colloquial expression used in the same way we say ‘quid’ in the U.K or ‘bucks’ in the U.S. The note denominations are 100, 50, 20, 10, 5 & 1 RMB notes. There are also 1 RMB coins along with 5 mao and 1 mao coins. 10 mao makes 1…