Money matters

The official currency in China is the Renminbi (RMB or CNY) or in Chinese "Ren-min-bi", which translates as" the people's money". The Renmibi exchange rate to US Dollars is 640Yuan=100USD in 2021. The basic unit is the yuan (also known as "kuai"), which is used to express all quantities including prices in shops etc. Foreign currency may be exchanged to Chinese currency at licensed exchange facilities of the Bank of China and other authorized banks. Money exchange facilities are available at major airports, hotels. Major credit cards (American Express, Mastercard and Visa) are accepted by most major hotels and in many restaurants. ATMs compatible with bankcards are also available in almost every cities.


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