CNY and RMB are both used.
CNY(Chinese Yuan) is a currency symbol assigned to China by ISO, and its Chinese name is RMB.
RMB is short for the Chinese currency, using its Chinese Pinyin initials, but its standard is CNY.
In the recognition of the International Organization for Standardization, CNY is generally recognized internationally, which is due to the difference made by several Asian countries, such as JPY.
Because Hanyu Pinyin has little influence in the world, it is not conducive to CHINA’s going global. Therefore, the abbreviation “CHINA Dollar” is adopted as “CN £¤”, which is in line with the abbreviation logo.
CNY is the only normative symbol for the Renminbi in international trade.
Now it has replaced the notation of RMB£¤, which is used for settlement and domestic settlement.
But for domestic settlement in the case of no confusion RMB£¤can still be used.
Banks generally use CNY, the international legal symbol, while RMB£¤is used for internal accounting of enterprises.
Sometimes for reasons of simplification, RMB is omitted from a £¤of RMB and denoted as RMB.
In 2000, China Financial Publishing House published the “Regulations of the People’s Republic of China on the Administration of the Renminbi” study guide book has a detailed interpretation, called yuan, the unit of coin is jiao and fen, as the code of the payment unit, is the pinyin first letter of yuan uppercase Y plus two horizontal, that is, “£¤”.
