The official currency of the People's Republic of China is the renminbi (symbol: ¥, currency code: CNY), issued by the People's Bank of China. The basic unit, the yuan, is divided into 10 jiao and 100 fen—though fen are rarely used in everyday transactions. Banknotes feature portraits of Mao Zedong and images of national landmarks, combining China's revolutionary heritage with its modern achievements.