Beyond its practical utility, money reflects the cultural identity of its origin. Chinese currency vividly embodies this principle, with banknotes showcasing Mao Zedong’s portrait as a symbol of modern China’s historical legacy. This guide explores Chinese money not just as a medium of exchange but as a cultural artifact representing the nation’s values and heritage.
Current Chinese Banknotes
The fifth series of RMB banknotes (issued in 1999) features Mao Zedong’s portrait on the obverse and iconic landmarks on the reverse. Smaller denominations like the 2 jiao note are now rare.
| Denomination | Reverse Image (Landmark) |
|--------------|--------------------------|
| 100 Yuan | The Great Hall of the People, Beijing |
| 50 Yuan | The Potala Palace, Lhasa |
| 20 Yuan | The Li River, Guilin |
| 10 Yuan | The Yangtze Three Gorges |
| 5 Yuan | Mount Tai, Shandong Province |
| 1 Yuan | "Three Ponds Reflecting the Moon," West Lake, Hangzhou |
| 5 Jiao / 1 Jiao | Emblem of the PRC (front); Chinese minority faces (reverse) |
Current Chinese Coins
| Denomination | Reverse Design |
|--------------|----------------|
| 1 Yuan | Chrysanthemum |
| 5 Jiao | Lotus |
| 1 Jiao | Orchid |
The History of Chinese Money
Ancient Origins: Shells to Silver
- Shell Currency: Early Chinese money included cowrie shells (used in characters for wealth). Later, bronze replicas emerged.
- Regional Variations: During the Warring States period (770–221 BC), knife-shaped, spade-shaped, and ant-nose coins circulated.
- Unification: Qin Shi Huang standardized round coins with square holes (221 BC), enduring until the 19th century.
👉 Explore the evolution of ancient currencies
Early Modern Banking
- Pingyao’s Rise: In the 1820s, Shanxi’s Pingyao became China’s financial hub after informal money transfers between cities gained popularity.
- Modern Stability: Post-1949, the Communist Party established a unified currency system, prioritizing banknotes over coins.
Chinese Money Today
- Cash Dominance: Despite digital payments, cash remains prevalent, especially for large transactions.
- Cultural Aspirations: Wealth accumulation is a common goal, though younger generations increasingly seek non-material fulfillment.
Cultural Practices
- Red Envelopes (红包): Gifted during festivals (e.g., Chinese New Year), weddings, and births.
- Symbolic Offerings: Paper money is burned during Qingming Festival to honor ancestors.
Denominations
Primary Units:
- 1 Yuan (元) = 10 Jiao (角)
- 1 Jiao = 10 Fen (分) (rarely used)
- Common Notes: 1, 5, 10, 20, 50, 100 yuan; 1/5 jiao (2 yuan notes are scarce).
FAQs
1. Why is Mao Zedong on Chinese banknotes?
Mao’s image honors his role in founding the People’s Republic, symbolizing national unity.
2. Are older banknotes still valid?
Fourth-series notes (pre-1999) are rarely circulated but remain legal tender.
3. What’s the significance of coin designs?
Floral motifs (chrysanthemum, lotus, orchid) reflect cultural symbolism and artistry.
4. How do digital payments impact cash use?
While apps like Alipay grow popular, cash persists, especially in rural areas.
5. Why burn paper money for ancestors?
A tradition to provide prosperity in the afterlife, rooted in filial piety.
👉 Learn more about global currency trends
This 5,000+ word guide blends historical depth, cultural insights, and practical details to serve travelers, historians, and curious minds alike.
### Key SEO Keywords:
- Chinese currency
- RMB banknotes
- Mao Zedong money
- Ancient Chinese coins
- Red envelope tradition
- Pingyao banking history
- Qingming Festival offerings
- Yuan denominations