The units of RMB are yuan, jiao and fen. Minute is the smallest unit of RMB, and the minimum face value of RMB is 1 minute. There is no coin less than 1 minute.
Regulations of People's Republic of China (PRC) Municipality on the Administration of Renminbi;
Article 4 The unit of RMB is Yuan, and the unit of RMB secondary currency is jiao and fen. 1 yuan equals 10 angle, 1 angle equals 10 minute. Renminbi is paid at face value.