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The currency used in China is known as the Chinese Yuan (abbreviated as CNY) or the Renminbi (abbreviated as RMB). The sign of Chinese currency is ￥. And the basic unite of Renminbi is yuan and the smaller are jiao and fen. In general, Yuan is referred to as Kuai, and Jiao as Miao by Chinese people. The conversion among the three is: 1 yuan = 10 jiao =100 fen.
Pictures of China Paper Money and Coins
|100 Yuan||50 Yuan||20 Yuan||10 Yuan|
|5 Yuan||1 Yuan||5 Jiao||1 Jiao|
China Currency Exchange
Although foreign currency can not be directly used in China, it can be exchanged at major airports, hotels, banks, and department stores of China. Please note that hotels may only provide exchange service for their guests. Remember to take your passport, which need to be presented when exchanging money. The exchange rates fluctuate in line with international financial market conditions and are published daily by the State Exchange Control Administration. Please keep all your exchange receipts, because you may need to show them when you change RMB back to your own currency at the end of your tour in China.
The major credit cards are accepted in China, such as Master Card, Visa, American Express, JCB and Diners Club Card. Holders can draw cash from Bank of China and purchase at appointed shops, hotels and restaurants. However, it’s advisable to take enough money when you are going to visit the remote area in China in which it’s difficult to exchange currency or use credit cards.