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“The China Center has an amazing library for its size. You can find resources for your research or just for a good read.”
—Laura Weir, Fall 2005
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The currency in China is called the People's Currency, or renminbi in Chinese, and the official basic unit of currency is the yuan, which is colloquially called kuai in mainland China, and is divided into jiao, which is also colloquially called mao, and fen. Ten fen make one jiao and ten jiao make one yuan. Denominations of paper currency in yuan range from one, two, five, ten, twenty, fifty and hundred yuan notes. Denominations of paper currency in jiao range from one, two and five jiao notes, and there is also an unpopular one fen note that is typically only given for exact change by banks conducting foreign currency exchange. Denominations of coinage in fen range from one, two, and five fen coins, and there are one, and five jiao coins, and one yuan coins.