The legal currency of China isRenminbi (CNY, symbol ¥), 1 yuan=10 jiao=100 fen. Cash is still useful, but mobile payments are more popular.
Currency exchange
- Exchange can be done at airports, bank branches, and regular exchange points, and a passport is required.
- Airport exchange rates are usually slightly lower than city banks, and it is recommended to go to the bank for large amounts.
ATM cash withdrawal
- ATMs with UnionPay, Visa, and Mastercard logos can be used for cash withdrawal, and a handling fee will be charged by the issuing bank.
- Notify the local bank before departure to avoid the card being frozen by risk control.
Card swiping and mobile payment
- Large shopping malls, hotels, and chain stores accept Visa/Mastercard/UnionPay.
- Most stores and vendors only accept mobile payment or cash - prepare Alipay/WeChat or change.
Tipping
There is no tipping culture in China, so there is no need to give extra tips; Some high-end hotels may exercise discretion.
Avoiding pitfalls
- Refuse to exchange foreign exchange privately on the streets to prevent fraud and counterfeit money.
- Keep the exchange receipt for verification.
- Preparing change or scanning codes in subway, snack and other scenarios is smoother.
