Money:
Will our credit cards be accepted in China?
Most major credit cards are accepted in hotels and shopping malls in China. Being that many small shops and restaurants may not accept credit cards, it's strongly advised to have sufficient Chinese currency with you. If you are only usinga credit card, inform your bank beforehand to lift cash withdrawal limits.
Are there any ATM services in China?
Most banks in China have ATMs, just check if the logo or symbol of your credit card is shown on the ATM when using it. The main offices of the Bank of China in most cities especially in major tourist cities usually have ATMs friendly to foreigners. In addition, ATM is also available in some five-star hotels.
Are foreign currencies like US dollars acceptable in China?
Major international currencies like US dollars, euros, and pounds are readily accepted in hotels or when buying things from vendors outside scenic spots and tipping the hotel porters, drivers, and guides. While businesses like department stores, small convenience stores, local restaurants, and street vendors only accept RMB (Chinese yuan).
Is it possible to use my credit card to withdraw money from hotels?
The answer is positive but there are drawbacks that you should notice: you have to wait up to one hour or a day to wait for the money to come because it needs the authorization of the issuing bank of your credit card. Besides, very few hotels provide this service. The best way to withdraw money from your credit card is to go to the office of the Bank of China, while a certain amount of commission for the withdrawal is needed.
How can I pay you? What kinds of payment ways do you accept?
For our client's convenience, we accept various kinds of payment:
1. All major credit cards - both faxed authorization form and by Paypal payment gateway;
2. Wire Transfer (bank transfer, TT transfer);
3. PayPal.
What's the currency used in China? What's the exchange rate between your currency and the US dollar?
Renminbi (RMB) or Chinese Yuan (CNY) is the same official currency used in mainland China. Yuan (also called Kuai in Chinese) is the basic unit and is divided into 10 jiao/mao or 100 fen. There are banknotes in denominations of 1, 2, 5, 10, 20, 50, and 100 yuan and coins in demonstrations of 1 yuan, 1 and 5 jiao, 2 and 5 fen. But small-demonstration bank notes and coins like fen are scarcely used today. To learn about the exchange rate, please refer to BOC Exchange Rate.
When I finish my tour in China if I still have some local money, what can I do?
A small remnant of the Chinese currency, not more than 6,000 CNY can be kept and brought out of China. Exchange them into your country’s currency if it is an excessive amount. If you need further help to deal with the local money, your tour guide is a good source to ask.
Where to exchange currency in China?
Airports, banks, ATMs, and most star-rated hotels are the place where you can get your currency exchanged into Chinese yuan. The exchange rate is regulated as the official rate. Do not trust any currency exchangers in the street, or you'll risk being a fraud with huge losses.
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FAQs
When traveling to China, it's a good idea to carry at least the equivalent of $100 to $200 USD in local currency (renminbi, or RMB). This should be enough for basic expenses like meals, transportation, and souvenirs. You can exchange your money at the airport or a bank, or use an ATM to withdraw cash in RMB.
What is the currency of China answer? ›
The Renminbi(RMB) is the official name of China's currency. The principal unit of RMB is called the Chinese Yuan (CNY). CNY is the official ISO 4217 abbreviation for China's currency. CNH is sometimes used as an unofficial abbreviation for the price of yuan in offshore markets.
How much money do I need to travel to China? ›
So, to summarize, for a budget traveler looking for a 2-night & 3-day trip to China, you can expect to spend approximately $800. However, please keep in mind that these are rough estimates and actual costs may vary depending on your travel style, activities, and other expenses.
What is the best currency to take to China? ›
You should bring RMB. The US Dollar is not accepted by any shops here. There is no purpose in carrying US Dollar cash within China.
How far does the American dollar go in China? ›
Download Our Currency Converter App
| Conversion rates US Dollar / Chinese Yuan RMB |
|---|
| 1 USD | 7.23765 CNY |
| 5 USD | 36.18825 CNY |
| 10 USD | 72.37650 CNY |
| 20 USD | 144.75300 CNY |
8 more rowsThere are no quantitative restrictions imposed on the foreign currencies, traveler's checks, or letters of credit brought in. However, inward passengers shall accurately declare to the Customs if carrying foreign currencies in cash worth more than 5,000 U.S. dollars.
How much does a 10 day trip to China cost? ›
On average, a budget-conscious traveller can expect to spend anywhere between Rs. 70,000 to Rs. 1,50,000 per person for a 10-day trip. This estimate encompasses expenses like visa fees, flight tickets, accommodation, meals, local transportation, sightseeing, and incidentals.
How much does a meal cost in China? ›
On average, a basic meal at a local restaurant may cost around 30 to 60 Chinese Yuan (CNY) per person, while a mid-range restaurant could cost around 100 to 200 CNY per person.
Many hotels and vendors outside scenic spots accept major international currencies, like US dollars, euros, and pounds. You can tip the hotel porters, drivers, and guides in international currencies. Some businesses in smaller cities, like convenience stores and local restaurants, only accept renminbi (Chinese yuan).
How to pay for things in China as a tourist? ›
Scanning QR codes with a mobile pay app has become the most common way to pay in mainland China. BEIJING — Foreign visitors to China can now spend up to $2,000 a year using the mobile app Alipay without having to register their ID, the app operator said Friday.
Should I exchange money before I travel to China? ›
As China remains a cash-based society, it is worth exchanging a reasonable amount as you will need cash for many day to day transactions. If you are travelling to the more remote parts of China we also recommend taking a few US Dollars in cash as a back-up.
How much is $1 US dollar worth in China? ›
1 USD = 7.09465 CNY May 21, 2024 23:56 UTC
Check the currency rates against all the world currencies here. The currency converter below is easy to use and the currency rates are updated frequently.
How much can 1 usd buy in China? ›
Convert US Dollar to Chinese Yuan Renminbi
| USD | CNY |
|---|
| 1 USD | 7.23654 CNY |
| 5 USD | 36.1827 CNY |
| 10 USD | 72.3654 CNY |
| 25 USD | 180.913 CNY |
6 more rowsCost of Living in China
| Restaurants | Edit |
|---|
| Imported Beer (12 oz small bottle) | 16.00¥ |
| Cappuccino (regular) | 23.77¥ |
| co*ke/Pepsi (12 oz small bottle) | 3.36¥ |
| Water (12 oz small bottle) | 2.13¥ |
62 more rowsThe Chinese yuan renminbi (simplified Chinese: 人民币), or CNY, which means 'people's currency', is the official currency of the People's Republic of China. The term 'renminbi' refers to the name of the currency while 'yuan' refers to the basic unit of the Chinese currency.
What is the capital and currency of China? ›
The "Yuan" is the official currency of the People's Republic of China. It is also known as Renminbi, which means “the people's currency” in Mandarin. The capital of China is Beijing.
Is China still using US dollar? ›
However, today, China focuses almost exclusively on promoting the yuan through trade. Instead of being paid in US dollars, exporters are paid in their local currency with trade being settled when Chinese importers buy local products.
How much is China currency to a dollar? ›
