The currency of China is the renminbi, which is abbreviated as RMB and has the symbol ¥. The basic unit of the renminbi is the yuan, which is represented by the symbol 元 or 圆 and the code CNY. The renminbi is the official currency of the People’s Republic of China and is the world’s 5th most traded currency as of April 2022. It is used in various applications, including air conditioning, refrigeration, and industrial processes. The currency is commonly referred to as the Chinese yuan (CNY) in the context of the modern foreign exchange market.
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