They don't "take out money"; they "scan the code. Regional Variations: Hong Kong and Taiwan It is crucial to distinguish the currency of mainland China from that of its special administrative regions.
What Do Chinese Call Their Money: Yuan, Renminbi, or Slang Terms?
" This is the official legal tender used throughout the People's Republic of China. " Instead, they use a variety of colloquial terms that reflect the culture and history of the money.
China is the world leader in mobile payment technology, dominated by two super-apps: Alipay and WeChat Pay. This guide breaks down everything from the official banknotes to the slang used on the streets of Shanghai and Hong Kong.
What Do Chinese Call Their Money: Yuan, Renminbi, or Slang Terms?
The Basic Unit: The Yuan (CNY) While Renminbi is the name of the currency system, the Yuan (CNY) is the base unit of account, similar to how "Pound" is the base unit for British currency or "Euro" for the European Union. The Official Currency: The Renminbi (RMB) The formal name for Chinese money is the Renminbi (人民币), which translates to "People's Currency.
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