Money & Banking

The Chinese currency is the renminbi (RMB) or chinese yuan which is divided into fen. There are Y100, Y50, Y10, Y5, Y2, Y1, 50 fen, 20 fen and 10 fen banknotes. The smaller denominations are being replaced with coins, valued at 10 fen, 20 fen, 50 fen, and 1. Travelers cheques and money can be exchanged in all major hotels and banks. American Express offices will provide such services as Emergency Card Replacement and Global Assist. Emergency Cheque Cashing and Travelers Cheque Replacement services are offered by local banks in all major destinations.

Most ATMs in china are able to dispense RMB cash through money links like plus, cirrus, maestro or major credit cards etc. In addition, most hotels in china will accept international credit cards (visa, amex, mastercard) for payment. Hence, you should bring sufficient cash for miscellaneous expenses.