The Chinese currency unit is known as the yuan, which is a four-letter word. The yuan is the basic unit of the Renminbi, which is the official currency of the People's Republic of China. It has been in use since the early 20th century and is used in both domestic and international transactions. The yuan is also used in Hong Kong and Macau, where it is referred to as the 'Hong Kong dollar' and the 'Macau pataca' respectively.