The official currency of the People's Republic of China is the Renminbi (RMB), which translates to "the people's currency." The basic unit of the Renminbi is the yuan. In everyday conversation, Chinese people commonly refer to prices in "kuai" (colloquial for yuan) or "mao" (for the jiao, which is one-tenth of a yuan). The currency is issued by the People's Bank of China and is available in banknotes of 1, 5, 10, 20, 50, and 100 yuan, as well as coins of 1 yuan, 5 jiao, and 1 jiao. As of recent years, China has also been rolling out the digital yuan (e-CNY), though cash and mobile payments remain the dominant forms of payment.
Exchanging money in China is relatively straightforward, but there are a few important things to know. The Chinese yuan is not a freely convertible currency, meaning you generally cannot exchange it outside of China. It is best to exchange a small amount of money upon arrival at the airport or at your hotel, and then use ATMs for additional cash withdrawals during your trip. Exchange rates at airports tend to be less favorable than those at banks, so only exchange what you need immediately.
China has become the world's most advanced mobile payment society. Cash is increasingly rare in daily transactions, and mobile payments through Alipay and WeChat Pay dominate the economy. From high-end restaurants to street food vendors, from luxury boutiques to public transportation, QR code payments are accepted virtually everywhere. As a foreign visitor, you can and should set up these payment methods before your trip.
Alipay, operated by Ant Group (affiliated with Alibaba), is one of China's two dominant mobile payment platforms. In recent years, Alipay has made it significantly easier for international visitors to use the app. You can now link international credit and debit cards (Visa, Mastercard) directly to your Alipay account. The app also supports English language, making it accessible for non-Chinese speakers. To set up Alipay, download the app, register with your phone number, and follow the verification process. You can then add your international card and start scanning QR codes to pay at millions of merchants across China.
WeChat Pay, integrated within the WeChat messaging super-app by Tencent, is the other major mobile payment platform. Like Alipay, WeChat Pay now supports linking international credit cards. WeChat is also essential for communication in China, as it is the primary messaging app used by virtually everyone. Setting up WeChat Pay requires downloading WeChat, creating an account, completing identity verification, and linking an international payment card. Once set up, you can pay by scanning merchant QR codes or by having merchants scan your personal QR code.
ATMs are widely available throughout China, found at banks, airports, shopping malls, convenience stores, and hotels. Most ATMs in major cities support international cards (Visa, Mastercard, Cirrus, Plus networks). Bank of China ATMs are the most reliable for international withdrawals. When using ATMs, be aware that your home bank and the Chinese bank may both charge withdrawal fees. Daily withdrawal limits vary but are typically around 2,500 to 3,000 RMB per transaction for international cards. Notify your bank before traveling to China so they do not flag your transactions as suspicious and block your card.
While mobile payments dominate in China, credit cards are still accepted at major hotels, upscale restaurants, large department stores, and international chains. Visa and Mastercard are the most widely accepted international cards. American Express and Discover have very limited acceptance. UnionPay, China's domestic card network, is accepted everywhere but requires a UnionPay-branded card. JCB cards from Japan also have reasonable acceptance. For everyday purchases like meals, transportation, and shopping at local markets, mobile payments or cash are far more practical than credit cards. Always carry some cash as a backup.
Tipping is not a standard practice in mainland China and is generally not expected. In fact, in many situations, attempting to tip may cause confusion or even be politely refused. At restaurants, a service charge may already be included in your bill at upscale establishments. At hotels, bellhops and housekeeping staff do not expect tips, though a small gesture of appreciation will always be welcomed. Tour guides and private drivers who provide exceptional service may appreciate a tip, but it is not obligatory. In Hong Kong and Macau, tipping culture follows more Western norms, with 10% being standard at restaurants.
China offers excellent value for travelers. Budget travelers can get by on approximately 300 to 500 RMB per day, covering hostel accommodation, street food, public transportation, and basic sightseeing. Mid-range travelers should expect to spend 500 to 1,500 RMB per day for comfortable hotel rooms, restaurant meals, and paid attractions. Luxury travelers can enjoy five-star hotels and fine dining for 2,000 RMB or more per day. Transportation between cities via high-speed rail is affordable, with second-class seats on major routes costing between 200 and 600 RMB. Domestic flights booked in advance can also be very reasonably priced.
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