The yuan is the official currency of the People's Republic of China. It is often represented by the symbol ¥ and has the currency code CNY. The yuan is subdivided into smaller units called jiao and fen, with one yuan equal to ten jiao and one hundred fen. The yuan is used in various forms, including banknotes and coins. It plays a significant role in international trade and finance, especially as China's economy continues to grow. The Chinese government manages the yuan's value through a system of controlled exchange rates.