Jenminpi

The Bank of China, which handles Peking's foreign currency transactions and recently established a correspondent relationship with the Chase Manhattan Bank, acted with uncharacteristic imprecision during the dollar crisis last month. On one day it revalued China's currency, the jenminpi (or renminbi depending on which transliteration system you use) by 4.9 per cent against the Hong Kong dollar and the following day it devalued it by almost the same percentage.[…] But while the flip‐flop caused Chinese banking officials some embarrassment it did not affect local confidence in the jenminpi or the bank itself.

China’s currency, the jenminpi, has remained stable; the Chinese assert that it is the "world’s most stable currency." This is generally conceded to be the result of the care with which the Chinese economy and its tight budget are managed.

The banks would be permitted to handle financial remittances, letters of Credit, and deposits in all currencies other than the New Taiwan dollar and mainland China's jenminpi [renminbi].