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The Chinese currency is called renminbi. One yuan is worth 10 jiao or 100
fen. So 1 jiao is worth 10 fen. All units are in the form of banknotes. There are
1, 2, 5, 10, 50 and 100 yuan notes, 1, 2 and 5 jiao notes, and 1 2, and 5 fen notes. There are also fen coins in 1, 2 and 5 fens. The standard Chinese currency , Renminbi (RMB), is not readily convertible.
China has, effectively a second currency called Foreign Exchange Certificates (FEC), it too is denominated in yuan, jiao and fen. As it name suggest, it can be exchange for foreign currency. When visitors change cash or travelers cheques, they will be given FECs. When visitors leave China, bank only accept FECs.
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