The official currency in China is the renminbi(RMB)or “people’s currency．” The basic unit is the yuan(also known as“kuai”)，which equals 10 jiao(or “mao”)，which is then divided into 10 fen．Paper currency comes in 1, 2, 5, 10, 20, 50，and 100 yuan notes．Paper jiao comes in denominations of 1, 2 and 5．There are also 1 and 2 fen notes．As for coins，there are 1 yuan，and 5 jiao，and 1，2，and 5 fens．

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Commemorative Currency

        China’s central bank has issued commemorative currency to celebrate the year 2000．A 100一yuan(US$12)bill and the t0一yuan(US$1．2) coin are circulated with the existing currency of the same denominations. The face of the gold—yellow note bears a dragon design，representing the year 2000 of the Dragon. The flip side features the China Millennium Monument, a structure in west Beijing，which symbolizes China’s 5，000一year—old civilization and its people’s wishes for the new millennium．Advanced anti—counterfeiting technologies are used to make the note．