Business Guide to China
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Currency Guide
China China Yuan Renminbi Notes are in denominations CNY100, 50, 20, 10, 5, 1
Currency Import and Export Restrictions: The import and export of local currency is limited to 6,000 Yuan. The import of foreign currencies is free. However, you must declare amounts over USD5,000 or equivalent. The export of foreign currencies is limited to the amount that was declared as imported. Currency Exchange:
Travellers cheques and foreign cash, in popular currency's such including US Dollars Euro and British GBP, can be exchanged in cities at the Bank of China. You will need to show your passport and you will have to pay commission. You can also use most western currencies in the larger hotels and also in stores that cater for tourists (called ‘friendship’ stores).
Credit & Debit Cards: Major cards are accepted in most larger establishments throughout the bigger cities. Yet outside the big cities usage is limited and it is best to have cash handy. It is recommended you alert your bank of your intention to travel to China failure to do so may result in your cards being blocked.
Banks: Banking hours and days vary from bank to bank in China. However, most Chinese banks are open from 9 a.m. to 4 p.m. or 5 p.m., and may have branches that are open on Saturdays and Sundays in select locations.