Renminbi -- The currency of China is the renminbi (RMB). RMB notes come in denominations of 100 yuan, 50 yuan, 20 yuan, 10 yuan, 5 yuan, 2 yuan, 1 yuan, 5 jiao, 2 jiao, and 1 jiao. A jiao is 1/10 of a yuan. Jiao are also available as 5 jiao coins and 1 jiao coins.
The fen is 1/10 of a jiao and is rarely used anymore. Fen comes as notes and coins, in denominations of 5, 2, and 1.
Exchanging money -- In Beijing, you can exchange your national currency to RMB at the Bank of China. The exchange rate varies according to market conditions. The following exchange rates are just for reference (as of August 22, 2008):
100 USD = 683.57 CNY
100 EUR = 1016.95 CNY
100 JPY = 6.2895 CNY
100 HKD = 87.552 CNY
100 GBP = 1281.59 CNY
Credit card service -- Credit cards can be used at large shopping malls and major restaurants in Beijing. However, cash is required at most other locations. During the Beijing 2008 Olympic and Paralympic Games, a Visa Service Center (VSC) will provide everyday assistance and multilingual emergency services for card holders. Automated Teller Machines (ATM) and Point-of-sale (POS) machines will also be available within Olympic venues and non-competition venues, including the International Press Center, the International Broadcast Center and the Olympic Village, to facilitate payment and withdrawal of RMB.
For further information, please click the links below for the "Manual for Currency Exchange Services":
PDF version of the manual:
Text version of the manual: