Thursday, March 15, 2007

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.

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

Many ATMs 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.

Lost Credit Cards

China Hotlines:

VISA 10-800-711-2911
MasterCard 10-800-711-7309
Amex collect call 336-393-1111

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Books on China & Beijing

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