RSSCurrency of China: Chinese currency is called Renminbi (people's money), often abbreviated as RMB. It is issued by The Bank of China and is the sole legal tender within the People’s Republic of China.
Traveller's cheques provide a fairly secure way of carrying your money. Always remember to keep the record of cheque numbers separate from the cheques for reference in the event of loss.
For the convenience of tourists, the Bank of China can cash travelers' cheques sold by international commercial banks and travelers' cheque companies in the United States, Canada, Australia, Hong Kong, Japan, Britain, France, Switzerland, Germany as well as many other countries. Also the Bank of China sells travelers' cheques for other banking institutions such as American Express, Citibank, Tongjilong Travelers' Cheque Co., the Sumitomo Bank of Japan, the Swiss Banking Corporation, to name a few.
Credit Card and ATMs: At present, the following credit cards are accepted in China: Master Card, Federal Card, Visa, American Express, JCB, and Diners Card. Cardholders can withdraw cash from the Bank of China and pay for purchases at exchange centers of the Bank of China, appointed shops, hotels, and restaurants.
However, this applies only in major cities and they are not always accepted in remote areas. Credit cards are not always accepted for the purchase of rail and air tickets.
ATMs that accept foreign cards are few and far between. Do not rely on them as a way of obtaining cash in Mainland China.
Consult with your bank before departing to make sure that your brand of cheque or credit card will be accepted.
Currency Regulations
There is no limit on the amount of foreign currency and foreign exchange bills that can be brought into China by tourists, but it must be declared to the customs.
RMB should be converted back into foreign currency with the personal valid "foreign exchange certificate" before leaving China. Unused foreign exchange and RMB traveler's cheques can be taken out of the country. Each tourist is permitted to take with them less than 6000 RMB.
Foreign Exchange: Foreign currency cannot be circulated within the People's Republic of China or used to determine the price and settle accounts. At present, China will accept and convert into Chinese Renminbi such foreign currencies as the US dollar, British pound, Euro, Japanese yen, Australian dollar, Austrian schilling, Belgian franc, Canadian dollar, HK dollar, Swiss franc, Danish Krone, Singapore dollar, Malaysian ringgit, Italian lira, Macao dollar, Finnish markka, and Taiwan dollar. Exchange rates are issued every day by the State Administration of Exchange Control. Before leaving China, unused Chinese Renminbi can be converted back into foreign currency with a "foreign exchange certificate" which is valid for six months.
