Left: Obverse (front) side of the 5, 10, and 20 RMB note. At the current exchange rate of about 8 RMB to 1 USD, these are worth $0.625, $1.25, and $2.50, respectively.
Right: Reverse (back) side.
Here's the 5 jiao, or 0.5 RMB, note, which is still in circulation and has a current value of $0.0625. Note that this note does not bear the image of the late Chinese Communist Party chairman Mao Zedong.
The smallest denomination bill that I saw was 1 jiao, or 0.1 RMB ($0.0125).