stylistic:tone
Terminology

The ISO code for the renminbi is CNY, the PRC's country code (CN) plus "Y" from "yuan". Hong Kong markets that trade renminbi at free-floating rates use the unofficial code CNH. This is to distinguish the rates from those fixed by Chinese central banks on the mainland. The abbreviation RMB is not an ISO code but is sometimes used like one by banks and financial institutions.

The currency symbol for the yuan unit is ¥, but when distinction from the Japanese yen is required RMB (e.g. RMB 10,000) or ¥ RMB (e.g. ¥10,000 RMB) is used. However, in written Chinese contexts, the Chinese character for yuan (Chinese: 元; lit. ' constituent ', ' part ') or, in formal contexts Chinese: 圆; lit. ' round ', usually follows the number in lieu of a currency symbol.

Renminbi is the name of the currency while yuan is the name of the primary unit of the renminbi. This is analogous to the distinction between " sterling " and " pound " when discussing the official currency of the United Kingdom. Jiao and fen are also units of renminbi.

In everyday Mandarin, kuai (Chinese: 块; pinyin: kuài; lit. ' piece ') is usually used when discussing money and "renminbi" or "yuan" are rarely heard. Similarly, Mandarin speakers typically use mao (Chinese: 毛; pinyin: máo) instead of jiao. For example, ¥8.74 might be read as 八块七毛四 (pinyin: bā kuài qī máo sì) in everyday conversation, but read 八元七角四分 (pinyin: bā yuán qī jiǎo sì fēn) formally.

Renminbi is sometimes referred to as the "redback", a play on "greenback", a slang term for the US dollar.