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Chinese Renminbi

The renminbi (RMB) is the official currency of the People’s Republic of China. The Chinese currency has historically and internationally often been referred to as the “yuan” and this is still sometimes the case. Translations into English always face the problems involved in the incompatibilities involved in converting a pictorial language such as Chinese and Japanese into a language consisting of a conventional alphabet. The yuan remains the name of the basic unit of the renminbi, so perhaps the simplest way of attempting to explain the difference is that the situation is similar to the distinction between the terms “pound” and “sterling” in our own currency. The name of the basic unit is the pound, but the currency is sterling.

The renminbi was officially adopted as the name of the official Chinese currency after an understandably large amount of uncertainty and instability caused by the future Chairman Mao’s revolution. As the revolutionary Communist Party slowly gained control of the Chinese economy, various money systems then in use across this vast nation were slowly unified into a single currency. The name renminbi was finally officially adopted in 1949.

During the early years of the regime, the economy was effectively closed to foreign trade, so an exchange rate did not really exist in practice. Renminbi could only be used in China: the currency was not readily exchangeable abroad. Foreigners were not allowed to buy or use the currency in China either. Tourism was severely restricted, and any businessmen or traders permitted into China were forced to use foreign exchange certificates instead.

Since the 1970s, China has slowly become more open to western trade. In 1972, US President Nixon made a historic visit to China, and in 1978 the mainland Chinese economy was opened to Western trade for the first time. Conversion of the currency remained difficult, not least because of the unrealistically high value imposed on the currency by the Chinese state. Throughout the 1980s and 90s, the currency slowly became more convertible, as the value of the renminbi gradually became more compatible with its real international value. This process was reinforced by the transfer of sovereignty of the economic powerhouse territory of Hong Kong to China in 1997, making it essential for the Hong Kong economy to be integrated with that of its new mainland masters.

As a result of this process, this opening of China to western trade has tended to accelerate still further in more recent years, as state control of the internal economy has been gradually loosened. It’s not exactly a “free market”, but certainly the renminbi is now openly traded on the currency markets and few controls on tourism and foreign access to the Chinese currency remain. But even to this day, the currency is not allowed to float freely in value, but instead must remain within a narrow band specified by the Chinese Government.

There are many Chinese nationals living in the United Kingdom, and the renminbi is frequently used to send money to friends and relatives remaining in mainland China and the new autonomous Special Administrative Region of Hong Kong. Hence it is certainly not uncommon for the currency to be used to make online payments involved in playing the ancient colonial game of bingo! Many UK regulated sites accept the currency, usually through the use of the centrally controlled UnionPay debit cards, which remain under the authority of the People’s Bank of China.

New Chinese Renminbi Casino Sites For 2022

Casino Dome

Casino Dome

Welcome Bonus

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T&Cs Apply

  • ☑️ Deposit By Neteller, PayPal, paysafecard, Boku, Apple Pay, Google Pay + 27 more
  • ☑️ Games From Microgaming, NetEnt + 9 more
  • ☑️ Extra Safety Measures
  • ☑️ Full UK License
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Welcome offer 100% up to €200 + 21 Free Spins that can be used on Starburst, Gonzo’s Quest, Twin Spin and Reel Rush. New players only. Minimum deposit €10. Players need to wager the Welcome Bonus 60x before they can withdraw the Bonus or any winnings gained from it except for players that are referred by 3rd party affiliates or google adverts the wagering requirement is 40x. The maximum withdrawal amount for a player from their Free Spins is €100. Deposits via E-Wallets (Skrill/Neteller/Paysafe/Paypal/Ecopayz), are not eligible for the New Player Welcome Bonus. Full terms applyBeGambleAware.org Please Play Responsibly18+ Only

Vegasoo

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Full List Of Chinese Renminbi Casino Sites

Casino Planet

Casino Planet

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Welcome offer 100% up to £100 and 200 Free Spins on Book of Dead. 18+ Full T&Cs Apply. New UK players Only. £10 minimum deposit. £5 maximum bet using bonus. 40x wagering applies. Bonus valid for 14 days. 20 Spins will be credited instantly upon qualifying deposit + then 20 per day for 9 days on pre-selected games. Free Spins valid for 72 hours from credit. Maximum Free Spins winnings £100. Ewallets excluded. www.begambleaware.orgBeGambleAware.org Please Play Responsibly18+ Only
Casino Lab

Casino Lab

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Welcome offer 100% up to £100 Deposit Bonus + 300 Free Spins on Reactoonz. 18+ full T&Cs apply. New UK players only. £10 minimum deposit. £5 maximum bet using bonus. 40x wagering applies. Bonus valid for 14 days. 30 spins will be credited instantly upon qualifying deposit + then 30 per day for 9 days on pre-selected games. Free spins valid for 72 hours from credit. Maximum free spins winnings £100. Ewallets excluded. www.begambleaware.orgBeGambleAware.org Please Play Responsibly18+ Only
Casino Dome

Casino Dome

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100% Bonus Up To €200 + 21 Bonus Spins

T&Cs Apply

  • ☑️ Deposit By Neteller, PayPal, paysafecard, Boku, Apple Pay, Google Pay + 27 more
  • ☑️ Games From Microgaming, NetEnt + 9 more
  • ☑️ Extra Safety Measures
  • ☑️ Full UK License
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Welcome offer 100% up to €200 + 21 Free Spins that can be used on Starburst, Gonzo’s Quest, Twin Spin and Reel Rush. New players only. Minimum deposit €10. Players need to wager the Welcome Bonus 60x before they can withdraw the Bonus or any winnings gained from it except for players that are referred by 3rd party affiliates or google adverts the wagering requirement is 40x. The maximum withdrawal amount for a player from their Free Spins is €100. Deposits via E-Wallets (Skrill/Neteller/Paysafe/Paypal/Ecopayz), are not eligible for the New Player Welcome Bonus. Full terms applyBeGambleAware.org Please Play Responsibly18+ Only

Vegasoo

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100% Bonus Up To €300 + 50 Bonus Spins

T&Cs Apply

  • ☑️ Deposit By Neteller, paysafecard, Boku, PayPal, Apple Pay, Google Pay + 29 more
  • ☑️ Games From Pragmatic Play, NetEnt, Microgaming + 13 more
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Welcome offer 100% up to €1,500 + 50 Free Spins over 4 deposits. 100% up to €300 and 50 free spins on Twin Spin on 1st deposit. New players only. Minimum deposit €10. Players need to wager the Welcome bonus 40 times before they can withdraw the Bonus or any winnings gained from it. 50 Free Spins will be instantly credited upon qualifying deposit on Twin Spin. Free Spins are valid for 72 hours upon activation. The maximum withdrawal amount for a player from their Free Spins is €100. Deposits made via Skrill or Neteller are not eligible for the bonus. The General Terms and Conditions of the Vegasoo website apply.BeGambleAware.org Please Play Responsibly18+ Only
Barbados Casino

Barbados Casino

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  • ☑️ Deposit By Neteller, paysafecard + 28 more
  • ☑️ Games From Microgaming, NetEnt, Aspire Global, Pragmatic Play + 57 more
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Welcome offer 100 Starburst spins. New UK players only. Minimum deposit £20. WR 35x. Offer valid for 72 hours. Spins expire after 24 hours. Full terms apply.BeGambleAware.org Please Play Responsibly18+ Only
Casino Joy

Casino Joy

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Welcome bonus 100% up to £100 and 200 free Starburst spins. 18+ Full T&Cs Apply. New UK players Only. £10 minimum deposit. £5 maximum bet using bonus. 40x wagering applies. Bonus valid for 14 days. 20 Spins will be credited instantly upon qualifying deposit + then 20 per day for 9 days on Starburst. Free Spins valid for 72 hours from credit. Maximum Free Spins winnings £100. Ewallets excluded. www.begambleaware.orgBeGambleAware.org Please Play Responsibly18+ Only
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This impressive casino features some spectacular graphics, built around its “city of slots” theme. Its eye catching front page is dominated by its city in the sky dreamsacape, which would not look out of place on one of those prog rock album sleeves of years gone by (younger players may...Read More

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Hopa

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Casino Cruise

Casino Cruise

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100% Bonus Up To £100 + 200 Bonus Spins

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  • ☑️ Deposit By Neteller, PayPal, paysafecard, Boku, Apple Pay, Google Pay + 26 more
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Genesis Casino

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100% Bonus Up To £100 + 300 Bonus Spins

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Oshi Casino

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100% Bonus Up To €100 + 100 Bonus Spins

  • ☑️ Deposit By Neteller, paysafecard + 15 more
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UK players are not accepted. For players outside the UK welcome bonus is 100% match bonus up to 100 EUR and 100 free spins. This is part of a welcome package worth up to 300 EUR bonus and 250 free spins over 3 deposits. New players only. Minimum deposit 10 EUR. WR 40x bonus money or winnings from free spins. Full terms apply.BeGambleAware.org Please Play Responsibly18+ Only

By Matthew

I have been involved in the Bingo and Casino industry since 2007. I created many of the first Bingo & Casino Portals that had extensive information including software platform, payment options included about each site. I own / have owned my own bingo and casino skins. My websites have been included in the EGR Magazine and I have been nominated for iGB Affiliate awards. Because of this I have a lot of industry knowledge and aim to provide bingo and casino players honest information.