The highest denomination is 100 yuan, about $17. There are stories of aunties who had literal whole apartments stacked floor to ceiling with boxes of banknotes from running(for example) an aluminum recycling business in the reform and opening up days. A staple of "China foreigner" photos used to be flashing a big gangster roll of five figures of yuan which wasn't really that much, a few thousand bucks but sure looked like it. China invented paper money and they'll be the first to eliminate it. Alipay and Wechat are payments for everything now. It's getting harder and harder to use cash. People will take it but sometimes can't give change except if they transfer it to you on your phone. It's eliminated pickpockets though.