What does yuan mean?
The yuan is the basic monetary unit of China, divided into 100 fen. As the primary currency of the People's Republic of China, it plays a crucial role in the country's economy and international trade. The yuan has gained increased attention in recent years due to China's growing economic influence. It is also known as the Renminbi (RMB) or Chinese currency. The yuan's value is managed by the People's Bank of China, which aims to maintain stability in the foreign exchange market. Understanding the yuan is essential for businesses and individuals involved in international trade and finance with China.
nounThe basic monetary unit of China, equal to 100 fen. It is also used to refer to the Chinese currency in general.
- The basic monetary unit of China
- The Chinese currency in general
"The cost of the meal was 50 yuan."
"The cost of the meal was 50 yuan."
"The exchange rate between the dollar and the yuan fluctuates daily."
The plural form 'yuans' is used when referring to multiple units of currency.
"The total cost was 100 yuans."
Reviewed by Deb Chak, Editor. AI-assisted content curated by RJS Tech Solutions LLP.
Etymology of yuan
The word 'yuan' originates from the Chinese language, where it is written as . It has been used as the name for the Chinese currency since the late 19th century. The term 'yuan' is derived from the Chinese word for 'round' or 'circle', which refers to the round shape of the coins used in China.
Usage notes
The term 'yuan' is often used interchangeably with 'RMB' (Renminbi), although technically 'RMB' refers specifically to the currency, while 'yuan' refers to the unit of currency.