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renminbi,

 

Definitions from the Web

Renminbi

Definition

The renminbi (RMB) is the official currency of the People's Republic of China. It is abbreviated as CNY (Chinese Yuan) or RMB (Renminbi).

Senses

Sense 1 - Currency

Renminbi refers to the currency used in China, which consists of yuan (denominations in paper currency) and fen (denominations in coins). It is widely accepted as a payment method in mainland China.

Sample sentence: I exchanged my US dollars for renminbi at the bank.

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Sense 2 - Economic Policy

Renminbi is often used when discussing economic policies adopted by the Chinese government to control the value of its currency and promote economic growth.

Sample sentence: China is considering devaluing its renminbi to boost exports.

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Sense 3 - International Trade

Renminbi is also a significant currency in international trade, with some countries now accepting it in bilateral trade agreements.

Sample sentence: The two countries agreed to settle their trade in renminbi instead of US dollars.

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Sense 4 - Culture

The renminbi holds cultural significance, representing China's economic rise and its increasing influence on the global stage.

Sample sentence: The design of the new renminbi banknotes incorporates traditional Chinese cultural elements.

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