Rmb [ré n mí n bí n] legal tender in People's Republic of China (PRC) * * RMB is the legal tender in People's Republic of China (PRC), and the People's Bank of China is the competent authority of RMB, responsible for the design, printing and issuance of RMB. The unit of RMB is yuan, and the monetary unit of RMB is jiao and fen. 1 yuan equals 10 angle, 1 angle equals 10 minute. The symbol of RMB is yuan, and the initial letter of pinyin is y plus two horizontal lines, which is RMB. People's Republic of China (PRC) has issued RMB for 72 years. With the development of economic construction and the needs of people's life, RMB has been gradually improved and improved. By the end of 20021,5 sets of RMB have been issued, forming a multi-variety and multi-series monetary system, such as paper money and metal coins, ordinary commemorative coins and precious metal commemorative coins. Except for 1, 2/and 5-cent coins, the first, second and third sets of RMB have been withdrawn from circulation, and the fourth set of RMB stopped circulating on May 20 18 (1 minute, 50-cent notes and 50-cent, 1 yuan coins). Rmb in circulation is mainly the fifth set of RMB [1] issued in 2005, 20 15, 20 19 and 2020. 2065438+ 161On October 20th, the People's Bank of China revealed that it would strive to launch the digital currency issued by the central bank as soon as possible. The meeting held that under the current new normal of China's economy, it is of positive practical significance and far-reaching historical significance for the central bank to explore the issuance of digital currency.