Banking & Money in China

China's currency is the Renminbi (RMB), meaning "People's Money" and is issued by the People's Bank of China.

China's main unit of currency is the yuan (元)[CNY]. One yuan is sub-divided into 10 jiao (角), and one jiao into 10 fen (分). jiao and yuan are usually referred to colloquially as mao and kuai respectively.

It is becoming increasingly rare now to receive any fen in your change. The largest denomination renminbi note is the red 100-yuan note.

Banks

Here is a list of the major banks in Beijing:

Bank of China Tel: 95566

Agricultural Bank of China Tel: 95599

China Construction Bank Tel: 95533

China Merchants Bank Tel: 95555

Citibank Tel: 800 830 1880

HSBC 800 820 8878

Industrial & Commercial Bank of China Tel: 95588

ATMs in Jianguomen Subway Station, Beijing.

Using an ATM in Beijing

Banking opening hours vary but on the whole banking hours are 9 am-5 pm with some branches open on the weekend.

Many ATM's in Beijing accept foreign issued credit cards from the major companies including Amex, MasterCard, Visa, Cirrus and Plus.

Expect a healthy charge from your home bank. Withdrawals are limited to between 3,000-5,000 RMB.

ATMs that accept foreign issued credit cards offer both Chinese and English operation screens, or at least have both languages displayed on the same screen. There are ATMs at Beijing Airport and in many of the city's major shopping and commercial areas.

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Beijing Visitor Guide