It's a little more complicated. Yes, Y stands for Yeoman.
The Yeoman books are: Modern World Coins (covering 1850 to 1964, most recently published in 2023, the previous version was 2008) and Current Coins of the World (covering 1964 and later, last published 1988).
But Krause adopted Y numbers for many countries. Some have been replaced with KM numbers, but for China only some of the numbers have been replaced.
And for the complication: In many places Krause has added sub-types. For example splitting Y# 1 into Y# 1.1 and Y# 1.2. In those situations you will only see Y# 1 in a Yeoman book -- you need to read a Krause book to understand the difference.
(If you look at Numista you will see Y# connected with Yeoman books. The fact that the numbers actually come from Krause and not Yeoman isn't mentioned.)