Currency

The official name for the currency in China is Renminbi (abbreviated as RMB, the "people's money") with denominations of the yuan, jiao, and fen, which bear a relationship to each other somewhat like the U.S. dollar, dime, and penny. 1 Yuan=10 Jiao (in 1, 2 & 5) = 100 Fen (in 1, 2 & 5). In China, foreign exchange, which offers similar rate to the Banks. Hong Kong's currency is the Hong Kong dollar, whilst Macau's is the Pataca.

Credit Card

Now there are seven main foreign credit cards available in China, including Visa, MasterCard, American Express, Diners Club, JCB, Federal and Million.

Credit cards can be used for withdrawing money, shopping and other transactions in most major Chinese cities, but generally unacceptable in rural out of the way areas, such as some small shops, market and so on.

ATMs

If the symbols and logos of your credit card are shown on the ATMs, then it can be used to withdraw money. It should be noted that different banks have different limits on the sum that can be withdrawn each time from the ATM, with most permitting a withdrawal of 20,000 Yuan in any day.

Traveler's Cheque

The traveler's cheque, which is issued by international commercial banks or authorized travel agencies, offers much more security and convenience while traveling. Similar to cash, the traveler's cheque also has different kinds of par values, and is issued in various currencies. At present, American Express, Visa, Thomas Cook and others issue cheques which are recognized worldwide and are available in most large-scale emporiums, star-rated hotels or can be exchanged in more than 800 banks all around the World, without any limitation on the period of validity.