{"id":99056,"date":"2024-10-21T14:34:41","date_gmt":"2024-10-21T06:34:41","guid":{"rendered":"https:\/\/chinatours.com\/?p=99056"},"modified":"2025-04-28T17:29:28","modified_gmt":"2025-04-28T09:29:28","slug":"chinese-money-guide","status":"publish","type":"post","link":"https:\/\/www.chinatours.com\/china-travel-insights\/chinese-money-guide\/","title":{"rendered":"China in Your Pocket: a Practical Guide to Using Chinese Money"},"content":{"rendered":"\n
\"Chinese<\/figure>\n\n\n

When paying with Chinese money, have you ever noticed that the banknotes show pictures of some of the most beautiful highlights from all over China? Chances are, you didn\u2019t.<\/p>\n

Money forms a big part of the everyday lives of the Chinese. They carry these small, pocket-sized images of The Great Hall of the People, the Li River, and the Qutang Gorge with them wherever they go.<\/p>\n

Besides the breathtaking images on the banknotes, there\u2019s probably more you don\u2019t know about China\u2019s official currency, the Chinese Renminbi. That\u2019s why we came up with this practical guide to using Chinese money.<\/p>\n

Your guide to using Chinese money<\/h2>\n

One currency with many names<\/h3>\n

There are many different names for Chinese money, varying from\u00a0Renminbi<\/a>\u00a0(RMB) to Yuan (CNY), and Kuai. The official name of the Chinese currency is Renminbi, and the Yuan, also used as the name for the Chinese currency, is its basic unit. The Renminbi is issued and controlled by the People\u2019s Bank of China.<\/p>\n

The word Kuai is the colloquial designation of the Yuan and means piece. Sometimes the Chinese use the word Kuai for the Hong Kong Dollar or US Dollar too.<\/p>\n

Currently, Chinese money consists of banknotes of 1, 5, 10, 20, 50, and 100 Yuan, banknotes of 1 and 5 Jiao (10 Jiao is equal to 1 Yuan), as well as 1 Yuan coins, and 1 and 5 Jiao coins.<\/p>\n

For the current exchange rate of the Chinese Yuan against the US Dollar, visit the Bank of China website.<\/p>\n

Obtaining Chinese money<\/h3>\n

When traveling in China, keep in mind foreign currencies aren\u2019t accepted, with the exception of the occasional souvenir shop. So if you want to be well-prepared, it\u2019s a good idea to bring some Chinese money with you for your tour.<\/p>\n

You can bring up to 20,000 RMB (or foreign currencies in cash worth Not<\/strong> more than $5000 USD) with you to China, without having to declare at customs. However, if you\u2019re planning on bringing more Chinese money into the country, declaring is a must. At the end of the tour, you can exchange your Chinese Renminbi back to your own currency, or keep the remaining local money as a souvenir. The same rules regarding declaration apply when you leave the country as well.<\/p>\n

In general, bringing large amounts of Chinese money with you to China isn\u2019t necessary. There are plenty of currency exchange services available. You\u2019ll find them at most international airports, 4 and 5-star hotels, and central business areas in the cities. Remember to keep your passport handy as you\u2019ll need it for any currency exchange transaction.<\/p>\n

Payment options in China<\/h3>\n

In addition to using Chinese money, major credit cards, such as Visa, MasterCard, Diners Club, AMEX, and JCB card of Japan are widely accepted in China\u2019s major cities, as are ATMs. Like most big cities, ATMs are everywhere \u2013 inside banks, on street corners, in hotels, shopping malls, subway stations, post offices, and many more locations. Just look for the VISA, MasterCard, AMEX logos on the ATM, and you\u2019re good to go.<\/p>\n

Keep in mind most ATMs have a daily maximum withdrawal amount, which is usually 20,000 RMB. The maximum amount per transaction is 3000 RMB, or less, depending on the ATM you are using.<\/p>\n

Travelers\u2019 cheques are quite common in China, but you do need to cash them first. Purchasing and cashing a travelers\u2019 cheque is fairly easy, and can be done in most major Chinese banks.<\/p>\n

Please note that in small towns, cash is usually the only way to pay. Make sure you bring a sufficient amount of Chinese money with you when traveling to remote areas.<\/p>\n

Hong Kong, Macao, and Taiwan money<\/h3>\n

The Chinese Renminbi is broadly accepted in Hong Kong and Macao, although swapping them for Hong Kong Dollars or Macanese Pataca is simple, and can be done on virtually every street corner.<\/p>\n

It\u2019s a little different for Taiwan, where the Renminbi will not be accepted. However, many banks, hotels, and department stores in Taiwan allow you to exchange major currencies into New Taiwan Dollars.<\/p>\n

How to spot not so real Chinese money (how to spot a fake)<\/h3>\n

China has quite a counterfeit currency problem. From the convenience store where you buy a drink, to the taxi ride to town, and the restaurant you went for dinner, all may operate with a mix of real and fake Chinese money.<\/p>\n

Even when you\u2019re withdrawing money from an ATM at a major bank, receiving fake notes is rare, but not uncommon, so pay attention when receiving any larger amounts banknotes. Here\u2019s what to look out for:<\/p>\n