Chinese money is called Renminbi (RMB) means "The People's Currency". The popular unit of RMB is yuan" The official exchange rate between U.S. dollar and Renminbi yuan currently is about 1:8.3 (1 dollar = 8.3 yuan, For current exchange rate, please click Money Converter for detailed information ). 1 yuan equals 10 jiao, 1 jiao equals 10 fen. There are parts of China where the yuan is also known as Kuai and Jiao is known as mao. Chinese currency is issued in the following denominations: one, two, five, ten, twenty, fifty and one hundred yuan; one, two and five jiao; and one, two and five fen. 

Foreign Exchange     

Foreign currency cannot be circulated within the People's Republic of China or used to determine the price and settle accounts. At present, China will accept and convert into Chinese Renminbi such foreign currencies as the US dollar, British pound, Euro, Japanese yen, Australian dollar, Austrian schilling, Belgian franc, Canadian dollar, HK dollar, Swiss franc, Danish Krone, Singapore dollar, Malaysian ringgit, Italian lira, Macao dollar, Finnish markka, and Taiwan dollar. Exchange rates are issued every day by the State Administration of Exchange Control. Before leaving China, unused Chinese Renminbi can be converted back into foreign currency with a "foreign exchange certificate" which is valid for six months.