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 June 25, 2008):

100 USD = 686.34 CNY

100 EUR = 1075.36 CNY

100 JPY = 6.3568 CNY

100 HKD = 87.917 CNY

100 GBP = 1354.35 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 places. During the Beijing 2008 Olympic and Paralympic Games, a Visa Service Centre (VSC) will provide everyday assistance and multi-linguistic emergency services to card holders. Automated Teller Machines (ATM) and Point-of-sale (POS) machines will be available within Olympic venues and non-competition venues, such as the International Press Centre, the International Broadcast Center and the Olympic Village, to facilitate payment and the withdrawal of RMB.