Yuan, also known as the renminbi (RMB), is the official currency of China. It is abbreviated as CNY (Chinese yuan) or CNH (offshore yuan). The yuan is issued and controlled by the People’s Bank of China, the country’s central bank. The yuan is a floating currency, meaning its exchange rate is determined by supply and demand in the foreign exchange market. The value of the yuan has been a source of tension between China and its trading partners, with accusations of currency manipulation being leveled at China in the past.