Understanding China’s Currency, Yuan Versus Renminbi

“Kathleen, what is the difference, if any, between the yuan and the renminbi? I think they are one and the same, yes? Gracias.”

–Angela C., United States

Renminbi is the name of the Chinese currency as a whole, while yuan is used to reference a unit of that currency. For example, you get 5 yuan back in change, not 5 renminbi in change.

Currency exchanges are between dollars and renminbi.

The parallel is Britain’s pound sterling and the pound.

You can read more here.

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