Currency and Payment Options in China

1. Currency in China

The official currency of China is the Renminbi (RMB), commonly referred to as the Chinese Yuan (CNY) or “¥” (yuan).

• Currency Code: CNY
• Subunit: 1 Yuan = 10 Jiao = 100 Fen
• Common Denominations:
• Banknotes: ¥1, ¥5, ¥10, ¥20, ¥50, ¥100
• Coins: 1 Jiao, 5 Jiao, 1 Yuan

Exchange Rate: The rate varies, so always check the latest rates before exchanging money.

2. Currency Exchange Options

You can exchange your money in various places throughout China:

• Airports and Hotels: Convenient but may have lower rates.
• Banks: Safe and reliable; major banks like Bank of China and ICBC offer exchange services.
• Currency Exchange Booths: Found in tourist areas and shopping districts.
• ATMs: Widely available and often support international cards.

Tips:

• Always carry some cash, especially when traveling to rural areas.
• Keep smaller denominations handy for local markets and small shops.
• Make sure your bank card supports UnionPay, as it’s the most widely accepted card network in China.

3. Digital Payment Options

China is known for its advanced digital payment systems, and most transactions are cashless. The two most popular mobile payment apps are:

• WeChat Pay (Weixin Pay): Linked to your WeChat account, widely accepted across China.
• Alipay (Zhifubao): Linked to your bank card and popular among locals and foreigners.

How to Use Mobile Payments:

• Download the app (WeChat or Alipay) and complete registration.
• Link your international bank card or use a Chinese bank account.
• Scan QR codes to make payments at stores, restaurants, and even for street vendors.

4. Credit and Debit Card Payments

International credit and debit cards like Visa, MasterCard, and American Express are accepted mainly in upscale hotels, large shopping malls, and international chains.

• UnionPay Cards: Most commonly accepted in China.
• Foreign Cards: Limited acceptance, especially in local shops and small restaurants.

Tip: Always carry some cash as a backup since many local vendors do not accept foreign cards.

5. Traveler’s Cheques and Prepaid Travel Cards

Although once popular, traveler’s cheques are becoming outdated and are not widely accepted.

• Prepaid Travel Cards: Some international cards may work, but acceptance can be limited.

6. Tipping Culture in China

Tipping is generally not expected and may even be considered rude. However, upscale hotels and tour guides may appreciate a small gratuity.

7. Useful Tips for Tourists

Have a Mix of Payment Methods: Relying solely on cash or cards can be inconvenient, so be prepared with both.

• Learn Basic Phrases: It can be helpful to know how to say “How much?” (“多少钱?”—duō shǎo qián?) and “Pay by WeChat/Alipay.”
• Stay Aware of Exchange Rates: Use apps to check real-time currency conversion.
• Internet Access: You may need a VPN to download apps or make online payments as some services may be restricted.

FAQs About Currency and Payment Options in China

1. Can I use US dollars or Nepali rupees in China?

No, only Chinese Yuan (CNY) is accepted for transactions. You must exchange your money before making purchases.

2. Can foreigners use WeChat Pay or Alipay in China?

Yes, both apps now support foreign cards, but linking may vary by bank. It’s best to set them up before your trip.

3. Are credit cards widely accepted in China?

No, credit cards (especially foreign ones) are not commonly accepted, except in major hotels and tourist areas. UnionPay cards are more widely used.

4. Is it safe to use ATMs to withdraw cash in China?

Yes, ATMs operated by reputable banks like Bank of China, ICBC, and China Construction Bank are safe. Always use ATMs located in secure areas.

5. What’s the best way to pay for meals and shopping in China?

Digital payments through WeChat Pay or Alipay are the most common methods. Cash is also useful, especially in local markets and small eateries.