What is Chinese paper money called?

It is issued by the People’s Bank of China (PBOC, central bank). The official abbreviation is CNY, although also commonly abbreviated as “RMB”. Chinese paper money usually comes in 1 fen (rare), 2 fen (rare),5 fen (very rare), 1 jiao, 2 jiao, 5 jiao, 1 yuan, 2 yuan, 5 yuan,10 yuan, 20 yuan, 50 yuan and 100 yuan.Click to see full answer. Also asked, what was ancient Chinese paper money called? Copper coins were used as the chief denomination of currency in China until the introduction of the yuan in the late 19th century. Currently, the renminbi is the official currency of the People’s Republic of China (PRC). History of Chinese currency. History of China Song 960–1279 Northern Song Western Xia Southern Song Jin Yuan 1271–1368 when was paper money invented in China? Paper currency first developed in Tang dynasty China during the 7th century, although true paper money did not appear until the 11th century, during the Song dynasty. The usage of paper currency later spread throughout the Mongol Empire or Yuan dynasty China. Also, what is Chinese paper money made of? It had two main advantages over money made out of silver, gold, copper or iron: It was easier to carry around and the copper and iron could be saved for use in everyday objects. Names and seals were printed and written on paper money by the government officials who issued it.Why did China stop using paper money? The Modern Day Yuan After the Yuan Dynasty, the Ming Dynasty came to power and printed more paper money, and as a result did not help with the problem of inflation. This is what forced Ming to stop printing more money and turn to using ingots from Mexico and Peru. China would not use paper money again for 450 years.