The Chinese currency is called Renminbi (People's money), often abbreviated as RMB. Issued by the People's Bank of China, it is the sole legal tender for both the Chinese nationals and foreign tourists. The unit of Renminbi is yuan and the smaller, jiao and fen. The conversion among the three is: 1 yuan = 10 jiao =100 fen.
Dispensaries in Washington raked in over $1 billion in non-medical marijuana sales since the drug was legalized for recreational use back in 2012. The state allows people to carry up to one ounce of marijuana, but they must require the drug for medicinal purposes in order to be eligible for a grower's license.
That's why other states should follow the example of Colorado and Washington and legalize the recreational use of marijuana. Harnessing the power of entrepreneurs is much more productive than fighting it. On January 1, Colorado legalized the sale of small amounts of marijuana for recreational use. Later this year, Washington will follow suit. Alaska, Arizona, California, D.C. and Oregon may be the next states to permit cannabis businesses.