The official currency in mainland China is the Renminbi (RMB) or "People's currency." The basic unit is the yuan (also known as "kuai" ), which equals 10 jiao (or "mao" ), which is then divided into 10 fen. Paper currency comes in 1, 2, 5, 10, 20, 50 and 100 yuan notes, paper jiao comes in denominations of 1, 2 and 5. There are also 1 and 2 fen notes, but these are rarely used. As for coins, there are 1 yuan, 1 and 5 jiao, and 1, 2 and 5 fen (again, the fen coins are basically useless).

You can exchange money at bank of China, and most hotels in the cities, the exchange rate in the hotels is the same as that in the banks. You need to show your passport when you change the money. If you want to change money in a hotel, you should be a guest there. Whenever you change the money, please keep the exchange receipts well in case you need to exchange back into the original currency upon your leaving from China.
You can use US dollar / Euro / English pound / Australian dollar to pay for the bill in the hotels, to buy things from those vendors outside the scenic spots, to pay for any optional tours and to tip porters of the hotels, tour guides and drivers or whomever you want to tip. But you can not use some foreign currencies in some department stores or small convenience stores, local restaurants.


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