China tour agent chinagreattravel.com
top 10 popular China tours
China tour packages
scenic China tour
China photography tour
Beijing tours
China travel to Guilin
China tour to Yunnan
Yangtze River Cruise
China tours to Guizhou
China travel to Sichuan Chengdu
Silk Road tour
China tour to Tibet Lhasa
China city tours
China city guide
China travel tips

Home >> China Travel Tips >> Currency
 
 

China Currency, Credit Card and Travel Cheque

When travel to China, it is important to know the Chinese currency. What is like? How to get Chinese money? What is the changing rate between Chinese money and USD? Also, you'v got to know what kind of credit card and travel cheques is useful when you travel to China.

Chinese Currency
The Chinese currency is Ren Min Bi (RMB), issued by the state bank, the People's Bank of China; the standard unit of the Ren Min Bi is Yuan, with Jiao and Fen as subsidiary units. One Yuan equals 10 Jiaos and 1 Jiao equals 10 Fens. Yuan, Jiao and Fen are issued both in bills and coins. The Ren Min Bi features the following denominations: 1, 2, 5, 10, 20, 50 and 100 Yuan, 1, 2 and 5 Jiao; and 1, 2, and 5 Fen. The abbreviation for Ren Min Bi is CA£¤.
The changing rate between RMB and USD is about 6.28:1, based on the Feb, 2012 changing rate.

Cashing Foreign Currency in China
The circulation of foreign currency, and the settling of accounts with foreign currency, is banned in the People's Republic of China. Foreigners who have entered China will have to pay for their expenses in Ren Min Bi. The outlets of the Bank of China cash foreign travel cheques and credit cards, as well as 17 foreign currencies. The following foreign currencies can be cashed into Ren Min Bi in China: US Dollar, British Pond Sterling, Deutsche Mark, Japanese Yen, Australia Dollar, Canada Dollar, Hong Kong Dollar, Swiss Franc, Danish Krone, Norwegian Krone, Swedish Krona, Singapore Dollar, Thai Baht, Macao Pataca, Philippine Peso, Korean Won, New Taiwan Dollar and Euro. Airports, hotels, restaurants and stores in China also handle the conversion of foreign currencies into Ren Min Bi. The State Foreign Exchange Administration announces the exchange rates a daily basis. A foreign traveler may have his surplus amount of Ren Min bi changed back into foreign currency and take it out of China within a grace period of six months prior to departure from China, but in doing so he has to show a foreign currency conversion receipt.

Credit Cards & Travel Cheques
The following foreign credit cards are acceptable in China: Master Card, Visas Card, American Express Card, JCB Card, Diners Card. Card holders may draw cash at the Bank of China or conversion centrs designated by the Bank of China, or pay for their expenses at department stores, restaurants and hotels where credit cards are acceptable.
For the convenience of travelers in China, the Bank of China cashes travel cheques sold by international commercial banks and travel cheque companies in the United States, Canada, Australia, Hong Kong, Japan, Britain, France, Switzerland, Germany and other countries and regions. The Bank of China also sells travel cheques issued by VISA, Master Card, American Express, City Bank or New York, Thomas Cook, Barclays, Sumitomo Bank and Swiss Bank.

 
 
Contact Us | About Us | Terms And Conditions | Home
www.ChinaGreatTravel.com, All rights reserved