The renminbi (simplifie Chinese: 人民币; traditional Chinese: 人民幣; pinyin: rénmínbì; literally "people's currency") is the currency of the mainland of the People's Republic of China (PRC)., whose principal unit is the yuan (simplified Chinese: 元 or 圆; traditional Chinese: 圓; pinyin: yuán; Wade-Giles: yüan), subdivided into 10 jiao (角), each of 10 fen (分).