According to Article 3 of the Regulations on the Administration of Renminbi in People's Republic of China (PRC), the legal tender in People's Republic of China (PRC) is Renminbi. No unit or individual may refuse to pay all public or private debts in People's Republic of China (PRC) in RMB.
Article 5 The People's Bank of China is the national competent authority for RMB management, and is responsible for organizing the implementation of these Regulations.
Article 6 All units and individuals should cherish RMB. It is forbidden to damage the RMB and hinder its circulation.
Extended data:
Article 35 of the Regulations on the Administration of Renminbi in People's Republic of China (PRC) shall take effective measures to prevent the use of forged or altered Renminbi for external payment. Financial institutions handling RMB deposit and withdrawal business shall provide RMB authenticity identification service free of charge at their business premises.
Article 38 Renminbi shall not be circulated under any of the following circumstances:
(1) Incomplete and defiled non-convertible RMB;
(2) Renminbi that has ceased to circulate.
Baidu Encyclopedia-Regulations of People's Republic of China (PRC) Municipality on the Administration of RMB