Understanding what Chinese money is called requires looking at the official unit, the cultural context, the digital revolution, and the regional variations across the Greater China region. The Renminbi is managed by the People's Bank of China, the country's central bank, which oversees monetary policy and ensures the stability of the financial system.
Local Chinese Money Terms and Slang for Cash
In Hong Kong, the official currency is the Hong Kong Dollar (HKD), pegged to the US Dollar. While the Chinese Yuan is accepted in some tourist areas, using the local currency is standard practice and legally required in these regions.
The most common slang term is "Kuai" (块), which literally means "lump" or "piece. " This is the official legal tender used throughout the People's Republic of China.
Local Lingo: Common Slang Terms for Chinese Money
The Yuan is subdivided into 10 Jiao (角), and each Jiao is further divided into 10 Fen (分). " Similarly, Taiwan uses the New Taiwan Dollar (TWD), often called "Yuan" (圓) locally.
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