人民币 (RMB) is the official currency of the People's Republic of China. It is also known as the Chinese yuan (CNY) and is used for all transactions within the country. The currency is issued by the People's Bank of China, which is the central bank responsible for monetary policy and financial stability in China. The symbol for the yuan is ¥, and it is subdivided into smaller units called jiao and fen. The RMB is widely used in international trade and has gained importance as a global reserve currency. Its value is influenced by various factors, including China's economy, trade balance, and government policies.