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You are here: City Guide>> Beijing Useful Informations >> Money Exchange

 
Money exchange

 

The Chinese currency is officially called the yuan (Y), and is also known as renminbi (RMB). The yuan subdivides into 10 cent units called jiao or mao, these come in bills and coins of 1,2, and 5. The smallest denomination is the fen, which comes in coins of 1,2, and 5.

Exchange rate in China are fixed by the government daily, so it's equally good at branches of bank, or at big departments stores. Hold on your exchange receipt, you will need it to convert your extra yuan back into dollars or euros. You will need your passport to change money.

You can obtain a chinese credit card if you open an account in a bank, but for day-to-day transaction, cash is definitly king so try to stock little cash with you.

For large purchases, it's usally safer to use a credit card. If you want to use your international credit card, note that some banks add substantial percertages to all foreign transactions.

 

 

 

 

 

 

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