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Is RMB the same as yuan?
Aug 11, 2007 14:30
  • LONESOMEDOVE
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I heard that the RMB and the yuan are different. Is this true? where should I exchange money once in china?
Aug 11, 2007 15:22
#1  
  • GRIZ326
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My understanding is that RMB and yuan are the same. The notes have the word Yuan on them.

I believe there are just two concerns with money in China:

#1 - be aware that there is a considerable amount of counterfeit money, so look carefully at your change when doing business.

#2 - Hong Kong money does not spend on the mainland.

If I am wrong about those two points - or if there are additional concerns I am certain someone will correct me and/or add important commentary.
Aug 11, 2007 17:00
#2  
  • ROGERINCA
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The official name of the currency of the People’s Republic of China, is the Renminbi, which literally means “the people’s currency.” As Renminbi, can be a mouthful, the common abbreviation/reference is ‘RMB’. The principal unit of the Renminbi is the Yuan, as in the 1-2-5-10-20-50-100 Yuan notes/bills. There are also the smaller sub-units of the Yuan, which are called Jiao and Fen.

When I am in China, and am purchasing an item, I use the terms RMB or Yuan interchangeably when inquiring on the price of an item to be purchased…..”how many RMB is this ??” Or, how many Yuan ?? I never have used the full term of Renminbi in the market place. The banking/financial industry may sometimes also refer to it with the abbreviation of CNY, when referencing exchange rates etc.
Aug 12, 2007 04:55
#3  
  • MELODYCHOW
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Yes, exactly, RMB is the Chinese Yuan. The two items are generally the same.
Aug 12, 2007 07:09
#4  
  • APAULT
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In speech the words RMB and Yuan are seldom used. The normal word is Kuai, which is like an American saying buck, or an Englishman saying quid.

And the Jiao are often call Mao. So you might be told a price is san kuai wu (3.5 rmb)The only Fen coin is a 5, a light weight coin larger than the the 1 mao.
Aug 12, 2007 20:22
#5  
  • EVENING
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Quote
#1 - be aware that there is a considerable amount of counterfeit money, so look carefully at your change when doing business.

#2 - Hong Kong money does not spend on the mainland.

Yes, Grize, both your two points are correct! And what Paul said is quite useful I think! We usually say kuai, mao, fen instead of RMB or yuan or CNY in our daily life.
Aug 13, 2007 01:42
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  • MAY001
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Paul is totally right!
Aug 30, 2007 23:24
#7  
  • DYLAN0428
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wo usually say
1 yuan
or 1 yuan RMB
or 1 kuai
or 1 kuai qian


we never say 1 rmb
Sep 22, 2008 08:56
#8  
GUEST65157 do you say "wan" or is it pronounced "y-wan"
Sep 24, 2008 04:56
#9  
  • JIMMYB
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Guest65157, we Chinese say "wan". 一万元 (Yi Wan Yuan) equals ten thousand yuan. There are also Shi Wan (one hundred thousand), Bai Wan ( a million), Qian Wan (ten million) in Chinese.
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