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
is issued both in notes and coins. The denominations of paper notes include
100, 50, 20, 10, 5, 2 and 1 yuan; 5, 2 and 1 jiao; and 5, 2 and 1 fen.
The denominations of coins are 1 yuan; 5, 2 and 1 jiao; and 5, 2 and 1
in spoken Chinese, yuan is often called as kuai and the jiao as mao.
Traveller's cheques provide a fairly secure way of carrying your money.
Always remember to keep a separate record of the cheque numbers for
reference in the event of loss.
the convenience of tourists, the Bank of China can cash travelers' cheques
sold by international commercial banks and travelers' cheque companies
in the United States, Canada, Australia, Hong Kong, Japan, Britain,
France, Switzerland, Germany and other countries and regions. Also the
Bank of China sells travelers' cheques for such banks as American Express,
Citibank, Tongjilong Travelers' Cheque Co., the Sumitomo Bank of Japan,
the Swiss Banking Corporation and others.
Money exchange facilities for both currency and travelers' cheques are
available at major airports, hotels, and department stores. Please note
that hotels may only exchange money for their guests.
US dollar, British pound, French franc, German mark, Japanese yen, Australian
dollar, Austrian schilling, Belgian franc, Canadian dollar, HK dollar,
Swiss franc, Danish Krone, Singapore dollar, Malaysian ringgit, Italian
lira, Macao dollar, Finnish markka, and Taiwan dollar are all exchangeable.
Exchange rates fluctuate in line with international financial market
condition and are published daily by the State Exchange Control Administration.
your currency exchange receipts, because you will need to show them
when you change RMB back to your own currency end of visit to China.
Currency rather than credit cards is essential in remote areas and you
should ensure that you carry sufficient RMB and travelers' cheques to
cover your requirements.
Card and ATMs
At present, the following credit cards are accepted in China: Master
Card, Federal Card, Visa, American Express, JCB and Diners Card. Holders
can draw cash from the Bank of China and pay for purchases at exchange
centers of the Bank of China, appointed shops, hotels and restaurants.
However, this applies only in major cities and they are not always accepted
in remote areas. Credit cards are not always accepted for the purchase
of rail and air tickets.
that accept foreign cards are few and far between. Do not rely on them
as a way of obtaining cash in Mainland China.
with your bank before departing to make sure that your brand of cheque
or credit card will be accepted.
A. There is no limit on the amount of foreign currency and foreign exchange
bills that can be brought into China by tourists, but it must be declared
to the customs.
B. RMB should be converted back into foreign currency with the personal
valid "foreign exchange certificate" before leaving China.
Unused foreign exchange and RMB traveler's cheques are permitted to
be taken out. Each tourist could take less than 6000 RMB out.