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The Chinese Currency is called the Yuan or Renminbi or RMB for short (rather like the term in the UK as Pounds and Sterling.) One Yuan can be divided into 10 jiao and then smaller into 100 fen. No foreign currency is allowed to circulate in China. Illegal selling of foreign exchange is not allowed. Travellers may exchange foreign currency, cash or cheques at Bank of China offices or exchange counters at the published exchange rates. These bureaus would issue a foreign exchange statement valid for 6 months.
Sanya Business Travel strongly advises clients to avoid unofficial transactions, no matter how favourable the rate of exchange.
| Australian Dollar | Japanese Yen |
| Canadian Dollar | Norwegian Krone |
| Danish Krone | Swiss Franc |
| US Dollar | Pound Sterling |
| Macau Dollar | Hong Kong Dollar |
| RMB Notes contain: | 1, 2, 5, 10, 50, 100 (yuan); 1, 2, 5 (jiao) |
| RMB Coins contain: | 1, 2, 5 (jiao); 1, 5 (fen); 1 (yuan) |
At present the Bank of China accepts American Express, Dynasty, JCB, Visa, MasterCard, and Diners Club cards. Bearers may use these cards to draw cash at the Bank of China offices or exchange counters, make purchases or pay bills at about 2000 department stores, restaurants and hotels in more than 100 major cities in China.
Although the acceptance of major credit cards is now more widespread in large hotels, restaurants and stores, it is unwise to rely on credit cards. A surcharge of 2% is always charged for card transactions.
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