Chinese Jiao
The Chinese jiao reflects the intermediary layer of the Renminbi system, where daily transactions align with structured economic design.
Quick Facts
Country: China
Code: CNY
Symbol: ¥
System: Decimal (1 Yuan = 10 Jiao = 100 Fen)
Status: In circulation
Issuer: People's Bank of China
The Story of the Chinese Jiao
The Jiao was introduced as part of the Renminbi in 1948, forming the bridge between Fen and Yuan within China’s unified monetary hierarchy. Its most important banknote expressions emerged in the Third Series of the Renminbi (1962), a period shaped by industrial consolidation and national reconstruction. These notes circulated widely across communes, factories and urban supply systems. Later, the Fourth Series (1980) redefined the visual and symbolic language of Jiao banknotes, reflecting a shift toward cultural representation and modernization. As China’s economy evolved and pricing structures expanded, Jiao banknotes gradually gave way to coins, marking the end of their everyday circulation role.
Design & Symbolism
The visual identity of Chinese Jiao banknotes is defined by two distinct design eras. In the Third Series (1962), imagery reflects industrial and infrastructural achievement: the 2 Jiao features the Wuhan Yangtze River Bridge, a landmark of national engineering, while the 5 Jiao depicts textile factory workers, symbolizing industrial labor. In contrast, the Fourth Series (1980) introduces a cultural shift, with Jiao notes portraying profiles of China’s ethnic minorities, emphasizing unity within diversity. Produced using intaglio and offset printing, these banknotes combine disciplined composition, fine linework and restrained palettes characteristic of mid-20th-century Chinese monetary design.
For collectors
For collectors, Chinese Jiao banknotes contain some of the most celebrated rarities in Asian numismatics. The legendary Third Series 1 Jiao varieties—known as the “Jujube Red” and the “Green Watermark (Green Back)”—are among the rarest and most valuable modern Chinese notes, withdrawn early due to printing variations and now commanding exceptional premiums. The Fourth Series 2 Jiao (1980) holds a different kind of significance: as the final issuance of this denomination before its permanent withdrawal, it has become one of the most widely collected investment notes in China. Together, these extremes—from ultra-rare early varieties to mass-collected modern issues—make the Chinese Jiao a uniquely dynamic and essential field for serious collectors.
Positioned between unit and base, the jiao forms the functional middle of the Renminbi hierarchy.