BusinessAugust 24, 2026

renminbi

ren-MIN-bee

Definition

The official currency of the People's Republic of China, commonly used in financial transactions and international reporting.

Etymology

Derived from the Mandarin Chinese term 'rénmínbì', literally meaning 'people's currency'. It has been the official currency of the People's Republic of China since the establishment of the People's Bank of China in 1948.

In the news

The article uses the term to clarify the exchange rate conversion between the Chinese currency and the US dollar, ensuring readers understand the monetary value of Alibaba's infrastructure investment.

Alibaba shares fall 8% after $10 billion Hong Kong share sale

Read the full article ↗

The Mighty 790 KFGO

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