Editing Renminbi (section)

== Terminology ==
{{More citations needed section|date=June 2021}}
{| class="wikitable"
!
!Chinese 
![[pinyin]]
!English
!Literal translation
|-
|Formal currency name
|{{lang|zh-cn|{{linktext|人民币}}}} 
|{{lang-zh|labels=no|p=rénmínbì}}
|renminbi
|"people's currency"
|-
|Formal name for 1 unit
|{{lang|zh-cn|{{linktext|元}}}} or {{lang|zh-cn|{{linktext|圆}}}} 
|{{lang-zh|labels=no|p=yuán}}
|[[Yuan (currency)|yuan]]
|"unit", "circle"
|-
|Formal name for {{frac|10}} unit
|{{lang|zh|{{linktext|角}}}}
|{{lang-zh|labels=no|p=jiǎo}}
|[[Jiao (currency)|jiao]]
|"corner"
|-
|Formal name for {{frac|100}} unit
|{{lang|zh|{{linktext|分}}}}
|{{lang-zh|labels=no|p=fēn}}
|[[Fen (currency)|fen]]
|"fraction", "cent"
|-
|Colloquial name for 1 unit
|{{lang|zh-cn|{{linktext|块}}}}
|{{lang-zh|labels=no|p=kuài}}
|kuai or quay<ref>{{cite book |url=https://books.google.com/books?id=JgFNBQAAQBAJ&q=quay&pg=PA59 |title=Chinese Business 2.0 |date=10 November 2014 |isbn=978-3-319-07677-5 |access-date=24 May 2019 |last1=Randau |first1=Henk R. |last2=Medinskaya |first2=Olga |publisher=Springer |archive-date=10 February 2023 |archive-url=https://web.archive.org/web/20230210075717/https://books.google.com/books?id=JgFNBQAAQBAJ&q=quay&pg=PA59 |url-status=live }}</ref>
|"piece"
|-
|Colloquial name for {{frac|10}} unit
|{{lang|zh|{{linktext|毛}}}} 
|{{lang-zh|labels=no|p=máo}}
|mao
|"feather"
|}

The [[ISO 4217|ISO code]] for the renminbi is ''CNY'', the PRC's country code (CN) plus "Y" from "yuan".<ref name=mulvey>{{cite web
|archive-url=https://web.archive.org/web/20191202165322/https://www.bbc.com/news/10413076
|archive-date=2 December 2019
|url=https://www.bbc.com/news/10413076
|title=Why China's currency has two names
|publisher=BBC News
|last=Mulvey
|first=Stephen
|date=26 June 2010
}}</ref> [[Hong Kong]] markets that trade renminbi at free-floating rates use the unofficial code '''CNH'''. This is to distinguish the rates from those fixed by Chinese central banks on the mainland.<ref>{{cite web
|archive-url=https://web.archive.org/web/20150418072032/http://www.ecrresearch.com/chinas-currency-rmb-cny-cnh
|archive-date=18 April 2015
|url=http://www.ecrresearch.com/chinas-currency-rmb-cny-cnh
|title=China's currency: the RMB, CNY, CNH…
}}</ref> The abbreviation ''RMB'' is not an ISO code but is sometimes used like one by banks and financial institutions.

The [[currency symbol]] for the yuan unit is [[¥]], but when distinction from the [[Japanese yen]] is required ''RMB'' (e.g. RMB&nbsp;10,000) or ''¥&nbsp;RMB'' (e.g. ¥10,000&nbsp;RMB) is used. However, in written Chinese contexts, the [[Chinese character]] for yuan ({{lang-zh|links=no|c=元|l=constituent, part|s=|t=|p=}}) or, in formal contexts {{lang-zh|links=no|c=圆|l=round}}, usually follows the number in lieu of a currency symbol.

''Renminbi'' is the name of the currency while ''[[Yuan (currency)|yuan]]'' is the name of the primary unit of the renminbi. This is analogous to the distinction between "[[Pound sterling|sterling]]" and "[[Pound (currency)|pound]]" when discussing the official currency of the [[United Kingdom]].<ref name=mulvey /> ''Jiao'' and ''fen'' are also units of renminbi.

In everyday [[Mandarin Chinese|Mandarin]], kuai ({{lang-zh|links=no|c=块|p=''kuài''|l=piece}}) is usually used when discussing money and "renminbi" or "yuan" are rarely heard.<ref name=mulvey /> Similarly, Mandarin speakers typically use mao ({{lang-zh|links=no|c=毛|p=máo}}) instead of jiao.<ref name=mulvey /> For example, ¥8.74 might be read as {{zhi|c=八块七毛四}} ({{Lang-zh|p=bā kuài qī máo sì}}) in everyday conversation, but read {{zhi|c=八元七角四分}} ({{Lang-zh|p=bā yuán qī jiǎo sì fēn}}) formally.

Renminbi is sometimes referred to as the "redback", a play on "greenback", a [[Slang terms for money#United States|slang term for the US dollar]].<ref>{{cite web |title=Chinese Yuan Renminbi Currency |url=https://www.oanda.com/currency-converter/en/currencies/majors/cny/ |access-date=29 April 2023 |website=OANDA.COM }}</ref>