[ssalazar]

The yuan-usd exchange rate has floated around 6:1 until recently, with yuan denominated down to 0.01. So possibly that.

[bobjordan]

Nailed it. https://en.wikipedia.org/wiki/Jiao_(currency)

[eecsninja]

Don't you mean fen? https://en.wikipedia.org/wiki/Fen_(currency)

1/6 of a penny is 0.0016 USD, or 0.01 CNY: https://www.google.com/search?q=0.0016+usd+to+cny