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China Money & Currency Converter
China Money
The official currency in China is the Renminbi (RMB or CNY)or in Chinese "Ren-min-bi". which translates as" the people's money", and is generally used in the same way we use the word' currency'- the Renminbi exchange rate, for instance. The basic unit is the yuan (also known as "kuai"), which equals 10 jiao (or "mao"), which is then divided into 10 fen. Paper currency comes in 1.2,5,10,50 and 100 yuan notes. Paper jiao come in denominations of 1, 2, and 5. There are also 1 and 2 fen notes, but these are rarely used as they have no purchasing power. 1 yuan, 1 and 5 jiao, and 1, 2, and 5 fen coins are even common used in larger cities.
Local Currency
The yuan comes in paper notes with denominations of 1, 2, 5, 10, 50 and 100 yuan notes, and 1 yuan coins. 1 yuan equals 10 jiao (or mao).
See pictures of Chinese money notes
  • 1 Jiao
  • 5 Jiao
  • 1 Yuan
  • 5 Yuan
  • 10 Yuan
  • 20 Yuan
  • 50 Yuan
  • 100 Yuan Universal Currency Converter ®
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Exchanging Money
Changing Money can be done in a number of ways. Most hotels will have a foreign exchange service and will exchange cash and travelers checks. As with hotels everywhere, the exchange rate will not be the official bank rate. Most large banks will exchange money and travelers checks. It is a requirement that you produce your passport to complete the transaction. Banks will only accept foreign bank notes that are undamaged. Notes that are even slightly torn will be rejected. Travelers Checks can be a secure solution if traveling for a longer time.
Cash advances are available on most common credit/debit cards e.g. American Express/Visa/MasterCard, but this facility is available only from the main branch of the Bank of China in most Chinese cities. A fee of 3%-4% will apply. The Bank of China has an ATM network that will allow cash advances from major credit / debit cards and ATM cards. Check you credit card provider for this information before leaving your home country. The RMB is not easily convertible on the international market so it is only usable in China. It is advisable to change only the money that you need for you trip as it may be difficult to change back to you preferred currency. You can convert unused RMB to another currency in China by producing the receipts for your original purchase of RMB in China. This exchange is done at the airport as you leave China. There is a foreign exchange black market but it is illegal.
->Credit cards
Major credit cards such as Master Card, Visa, JCB and American Express are accepted in major hotels and department stores. Check on the acceptance of your credit card before you purchase. Credit cards cannot be used in most restaurants or small convenience stores. Air Travel could be purchased with credit cards. Credit cards can be used to get a cash advance in the main offices of the Bank of China.
Bank of China ATM machines are compatible with Cirrus and Pulse so cash withdrawals are easy to complete using these machines. Only use ATM's that display the Visa and MasterCard symbols. An English menu will appear when you insert your card. The exchange rate that is applicable through ATM's is good and this can be a very convenient way to organize your money. Locations for ATM's are available from your card issuer. Limits for withdrawals on each transaction differ but US$250 per transaction is common.
Always carry some mall denomination cash (5,10,20 yuan) because if you use larger notes there is a small risk that you will be given counterfeit notes in your change at some of the markets or local stalls.
->Counterfeit Money
Although the Government is trying to eradicate this practice there are still some problems with the use of counterfeit money, although the problem is decreasing. It is very common practice for those who are receiving money to check its authenticity. Do not be offended by this practice. It is not a reflection on your character.
->Currency Fluctuation
We currently quotes tour prices in US Dollars, since rapid change of exchange rate between Chinese Reminbi and US Dollar: 1. Should a revaluation of the Chinese Renminbi occur, we will honor all quotations for tours that have been fully paid at the time of the revaluation. 2. Customers who have not paid for their tour in full at the time of any revaluation will be required to pay the difference between the old and new price calculated in Renminbi.