One yuan is divided into 10 jiao (角), and the jiao is further subdivided into 10 fen (分). The word yuan is widely used to refer to the Chinese currency generally, especially in international contexts.
As of 2021, Beijing's gross regional products was CN¥4 trillion ($965 billion in GDP PPP), ranking among the 10th largest metropolitan economies in the world. Beijing's nominal GDP is projected to reach US$1.1 trillion in 2035, ranking among the top 10 largest cities in the world (together with Shanghai, Guangzhou and Shenzhen in China) according to a study by Oxford Economics, and its nominal GDP per capita is estimated to reach US$45,000 in 2030.
Chinese yuan in the context of 2008 Sichuan earthquake
An earthquake occurred in the province of Sichuan, China at 14:28:01 China Standard Time on May 12, 2008. Measuring at 8.0 Ms (7.9–8.3 Mw), the earthquake's epicenter was located 80 kilometres (50 mi) west-northwest of Chengdu, the provincial capital, with a focal depth of 19 km (12 mi). The earthquake ruptured the fault for over 240 km (150 mi), with surface displacements of several meters. The earthquake was also felt as far away as Beijing and Shanghai—1,500 and 1,700 km (930 and 1,060 mi) away, respectively—where office buildings swayed with the tremor, as well as Bangkok, Thailand and Hanoi, Vietnam. Strong aftershocks, some exceeding 6 Ms, continued to hit the area up to several months after the main shock, causing further casualties and damage. The earthquake also caused the largest number of geohazards ever recorded, including about 200,000 landslides and more than 800 quake lakes distributed over an area of 110,000 km (42,000 sq mi).
Over 69,000 people lost their lives in the quake, including 68,636 in Sichuan province. 374,176 were reported injured, with 18,222 listed as missing as of July 2008. The geohazards triggered by the earthquake are thought to be responsible for at least one third of the death toll. The earthquake left at least 4.8 million people homeless, though the number could be as high as 11 million. Approximately 15 million people lived in the affected area. It was the deadliest earthquake to hit China since the 1976 Tangshan earthquake, which killed at least 242,000 people, and the strongest in the country since the 1950 Assam–Tibet earthquake, which registered at 8.6 Mw. It was the 4th deadliest natural disaster of the decade. It is the 18th deadliest earthquake of all time. The economic loss of the earthquake was 845.1 billion yuan (US$130 billion). On November 6, 2008, the central government announced that it would spend 1 trillion yuan (about US$146.5 billion) over the next three years to rebuild areas ravaged by the earthquake, as part of the Chinese economic stimulus program.
Renminbi were issued in coin denominations of 1, 2, and 5 fen and also banknote denominations of 1, 2, and 5 fen. The fen banknotes have stopped circulation since 1 April 2007, while the fen coins are still legal tenders by de jure, but generally limited to interests settlement by banks or exchange of foreign remittances, and rarely used in normal shopping purpose, as shops usually rounded it to jiao (e.g. ¥4.55 is rounded to ¥4.60).
The character 分 is also used to translate "cent" in other currencies. A euro cent is called 欧分; 歐分; Ōufēn in Chinese.
