The Chinese currency is called renminbi (people’s currency) and is often abbreviated to RMB. The basic unit is Yuan. Ten Jiao make one Yuan; ten Fen make one Jiao. Thus 100 Fen make one Yuan. Hongkong’s currency is the Hongkong dollar and Macau’s is the Pataca. Both currencies are worth 7% more than Renminbi. 
   A money belt or pocket sewn inside your clothes is the safest way to carry money. Velcro tabs sewn to seal your pockets shut will also help thwart roving hands. Keeping all your eggs in one basket is not advised - guard against possible loss by leaving a small stash of money (say US$100) in your hotel room or buried in your backpack, with record of the travellers cheque serial numbers and your passport numbers. 
   Stock up some ?ꦣurren;10 bills in case of the vendors and taxi drivers cannot make change for big note. Counterfeit bills are a problem in China. Very few Chinese will accept a ?ꦣurren;50 or ?ꦣurren;100 bill without first checking to see whether or not it is a fake. Notes that are old and tattered are also sometimes hard to spend. If you are having problems with a note, exchange it for a new one or small change at the Bank of China -counterfeits, however, will be confiscated.
   Besides the advantage of safety, travellers cheques are useful to carry in China because the exchange rate is actually more favourable than what you get for cash. Cheques from most of the world’s leading banks and issuing agencies are now acceptable in China - stick to the major companies such as Thomas Cook, American Express and Citibank and you’ll be OK. However it is only acceptable in the bank instead of shopping centers.

Money Exchange in Beijing

How and where to exchange your money when you travel to Beijing China ?

Usually you may do money exchange at the banks or ATM machine at the Beijing Capital Airport when you arrive. They make the same deal either you do it at the airport banks or at ATM machine. When you do the money exchange, don’t forget to take your passport. Please keep your receipt.It is vaild for three months! you can use the receipt to exchange your RMB ( Chinese money ) back to your currency when you leave China.

When you run out of money, you can also exchange your money at the counter of your hotel in Beijing. Each hotel has the capacity to do the money exchange for you since Bank of China or other banks in China will have their counters at the foreign-related hotels.

For large sum of money exchange, we suggest you to the banks to do it. Usually people go to Bank of China, or China Construction Bank ,or Industrial and Commercial bank of China, or China Agricutural Bank, the 4 of the largest banks in China.
Beijing China Currency & Banks

The currency of China is the renmenbi ( RMB ) or yuan. Now roughly 1 US$ equals to RMB 8. Foreign currencies are not in circulation in China though you may find some Hong Kong dollars appearing around southern China. ATMs are easy to be found in hotels and tourist destination and credit cards are popularly accepted in big cities like Beijing, Shanghai, Hong Kong ect.

You can easily use ATMs generally very convenient in China, you can still keep some traveller’s checks for a good choice for abtaining local cash in China. Foreign currency checks can be cashed at any airports, some banks, many large department stores, and most of the hotels. Exchange rates are regulated, so rates are generally about the same anywhere. Of course, in China you cannot use use traveller’s checks directly for shopping.

When you are going to exchange money,please keep exchange receipts. You can use the receipts to convert Renminbi back into foreign currency when exiting from China. Credit cards are usually accepted in major tourist hotels, shops and restaurants. Cash is welcome in China, so it’better to have some cash on hand when traveling in China.