Chinese currency continues to gain prominence on the global stage, so it’s important that its nuances are understood by cross-border commerce organizations. While the abbreviations “CNY” and “RMB” are often used interchangeably, there are some distinctions that you need to keep in mind.

A Brief History of the Renminbi

The People’s Republic of China was established in 1949, and with it the Chinese renminbi. It’s pinyin of the Chinese 人民币, meaning “the people’s currency,” with an internationally