The official currency of the People’s Republic of China is the Renminbi (RMB), with the primary unit being the Yuan (¥). The ISO currency code is CNY. In everyday usage, “yuan” and “RMB” are often used interchangeably. The People’s Bank of China (PBOC) manages the exchange rate through a managed floating system.

This converter pulls live mid-market exchange rates and refreshes automatically. Please note that these are reference rates — actual transaction rates from banks, money changers, or payment platforms may include margins, fees, or spreads. For business-critical transactions, always confirm the rate with your financial institution.

The CNY is not fully freely convertible. While it is convertible for trade-related purposes (current account), capital account transactions are subject to China’s foreign exchange controls administered by the State Administration of Foreign Exchange (SAFE). Foreign businesses repatriating profits, paying dividends, or transferring capital out of China must comply with relevant SAFE regulations. Contact us for guidance on cross-border fund transfers.

CNY refers to the onshore Yuan traded within mainland China, subject to PBOC-managed floating rates. CNH refers to the offshore Yuan traded in international markets (primarily Hong Kong), where the exchange rate is determined by market forces without direct PBOC intervention. The two rates can diverge slightly due to different market conditions.

Cross-border fund transfers involving China require compliance with SAFE regulations, proper documentation (contracts, invoices, tax filings), and may involve withholding tax obligations. Our firm assists foreign companies with profit repatriation, capital injections, intercompany loans, and royalty payments. Get in touch to discuss your specific needs.