China Currency

The Chinese Yuan - CNY (ISO4217 currency code); Renminbi - RMB (commonly used in China) is the basic unit of currency issued by the People's Bank of China. One yuan can be divided into 10 jiao and 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 checks at Bank of China offices or exchange counters at the published exchange rates. These bureaus would issue a foreign exchange statement which shall be valid for 6 months. Avoid unofficial transactions, no matter how favourable the rate of exchange.

Currencies that can be converted into Renminbi:

Australian Dollar
Austraian Schilling
Belgian Franc
Canadian Dollar
Danish Krone
Deutsch Mark
French Franc
Finnish Markka
Italian Lira
Japanese Yen
Netherlands Guilder
Norwegian Krone
Swiss Franc
Pound Sterling
US Dollar
Hong Kong Dollar
Macau Dollar

Credit Cards

At present the Bank of China accepts American Express, Dynasty, JCB, Visa, Master, 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 card 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.

Traveller's Cheques

The Bank of China offices or exchange counters accept traveller's cheques issued by international commercial banks or traveller's cheque companies in more than 100 countries and regions, including USA, Canada, Hong Kong, Japan, UK, France, Switzerland and Germany