The official Chinese
currency, ren min bi
means "the peoples' money". It has been used since the communist
takeover in 1949, and as of current standing one US dollar can get 8.3 RMB
. Right now, the banking
system of China
is rather closed, it is extremely difficult to obtain RMB
overseas, bringing large amounts of RMB
out of China
is not recommended, for not many banks accept RMB
exchanges. It makes it very annoying
travelling into China
, for you are forced right at the airport
to exchange money
, always at the atrocious bank
Like American money, one RMB can be divided into 100 fen, or cents. 10 cents make 1 jiao, or a dime. A simple system. 1 RMB notes have fallen into disuse, given the uselessless of a single RMB in China these days. Coins go up to 1 RMB. The notes are not too bad looking, certainly better than the bland green American monies.
- 10 RMB - As a tribute to the minorities of China, the 10 RMB note is emblazoned with a picture of a couple of Western Muslim minorities. An interesting green with nice decorations.
- 50 RMB - The proletariat gets the 50 RMB note. The three main professions: service, agriculture and army gets representation. Not a bad looking note, a nice golden color.
- 100 RMB - Mao, Zhou Enlai, and a couple other communist grand-daddies. The dullest of all Chinese banknotes.
The relatively small 100 RMB note is annoying, for any major transaction sans credit card requires huge stacks of these bills. Not as bad as the throwaway money of 1920's Germany, but getting close.
The RMB is also one of the most widely forged money in the world, next to the American money, because it doesn't use much special technology to protect it (wonder paper, watermarks, and the like). One must be on the constant lookout in China for forgeries, as they will get you in a world of trouble. They are as easily detected as running a finger over the note, forgeries are printed on plain office paper, with a very different texture than regular banknotes.