Chinese Currency and Payment Guide

Introduction

Understanding Chinese currency and payment methods is essential for a smooth travel experience. This guide covers everything from exchanging money to mobile payments.

Chinese Currency

• Official Currency: Renminbi (RMB), also known as Yuan (CNY).
• Banknotes: 1, 5, 10, 20, 50, 100 yuan.
• Coins: 1, 5, 10, 20, 50 fen; 1 yuan.
• Exchange Rate: Approximately 1 USD = 7-7.5 CNY (varies).

Currency Exchange

• Airports: Convenient but often have higher fees.
• Banks: Best rates but may require passport.
• Hotels: Convenient but rates may be less favorable.
• ATMs: Widely available, accept international cards.
• Tip: Exchange some money at the airport upon arrival, then use banks for better rates.

Payment Methods

• Cash: Still widely used, especially in smaller cities and markets.
• Credit Cards: Accepted in major hotels, restaurants, and shopping malls.
• UnionPay: Most widely accepted card network in China.
• Mobile Payment: Alipay and WeChat Pay dominate; essential for daily life.
• Tip: Set up Alipay or WeChat Pay if staying longer; link with a Chinese bank account or use international version.

Using ATMs

• Availability: ATMs are everywhere in cities.
• Fees: Your bank may charge international withdrawal fees.
• Daily Limit: Usually CNY 20,000 per day.
• Tip: Notify your bank before traveling to avoid card blocks.

Traveler’s Checks

• Acceptance: Less common now; better to use ATMs.
• Cashing: Can be cashed at banks but may require passport.

Important Tips

• Carry Cash: Always have some cash for small purchases and emergencies.
• Keep Receipts: Some merchants require receipts for refunds.
• Counterfeit Money: Be careful with large bills; check for security features.

Last Updated: July 2026

Note: Payment methods and exchange rates can change. Check current information before traveling.