Currency and cash in China: the practical guide for visitors

The Chinese yuan (RMB)

China's currency is the renminbi (人民币, RMB), with the primary unit being the yuan (元, ¥). In conversation and on menus, you will more often hear kuài (块) — the informal spoken word for yuan. Below the yuan are jiǎo (角) — one-tenth of a yuan — and fēn (分) — one-hundredth. Jiǎo are occasionally relevant on menus; fēn are functionally obsolete in daily transactions.

Banknotes come in denominations of ¥100, ¥50, ¥20, ¥10, ¥5, and ¥1. The ¥100 note is the largest and most commonly used for larger transactions. Coins exist for ¥1 and below. [VERIFY: confirm current RMB denominations in circulation — May 2026]

Exchange rates and where to exchange

The official rate for RMB is set by the People's Bank of China, with a daily trading band. In practice, the rate you receive varies depending on where you exchange. From most favourable to least:

1. ATMs (UnionPay network, major bank cards): Generally offer a rate close to the interbank rate, plus your home bank's foreign transaction fee (typically 1–3%).
2. Bank branch exchange desks (Bank of China, ICBC, etc.): Official rate, small commission. Bring your passport — required for all exchange transactions.
3. Airport currency desks (in China): Slightly worse rate than bank branches but acceptable if you need cash immediately on arrival.
4. Hotel exchange: Convenient but often the worst rate of any official option.
5. Street exchangers, unlicensed dealers: Avoid. Risk of counterfeit notes, extremely poor rate, or outright theft.

Currency exchange outside China (in your home country) before departure is usually the least favourable option. Better to arrive with a small amount of emergency cash and use ATMs or bank exchange in China.

ATMs

ATMs in major Chinese cities are widely available and usually accept foreign-issued Visa, Mastercard, and Maestro cards on the UnionPay network. Look for machines at Bank of China, ICBC, China Construction Bank, and Agricultural Bank of China — these have the most reliable foreign-card acceptance. HSBC and Citibank branches, where present, also reliably process foreign cards.

Practical tips for ATM use:

• Withdraw in cities rather than in rural areas — rural ATMs are fewer and less reliably configured for foreign cards.
• Withdrawal limits per transaction are typically ¥2,500–3,000. You can make multiple withdrawals in one visit.
• Your home bank will charge a foreign ATM fee (flat fee plus percentage). Minimise this by making fewer, larger withdrawals.
• Notify your bank before travelling that you will use the card in China — some banks block unusual overseas transactions as fraud prevention.
• Some ATMs will show an English-language option; others are Chinese-only. The PIN pad and button layout are typically intuitive even without translation.
• ATMs at airports, large shopping malls, and bank branches in international districts are the most reliable for foreign cards.

Mobile payments: the dominant system

Since approximately 2018, mobile QR-code payment has become the dominant transaction method across mainland China. WeChat Pay and Alipay together handle the vast majority of consumer payments. Merchants scan your QR code or you scan theirs; the transaction settles instantly.

Since 2023, both platforms have been substantially updated to allow foreign visitors to link foreign-issued bank cards directly:

Alipay for foreigners

Download the Alipay app (available in most countries' app stores). Create an account with your foreign phone number. Add a foreign Visa or Mastercard. Once set up, you can pay at any merchant that accepts Alipay by scanning their code or showing yours.

Alipay via a foreign card charges in your home currency at a dynamic exchange rate. There may be a per-transaction fee from your card issuer. [VERIFY: current Alipay foreign card fees and supported card networks — May 2026]

WeChat Pay for foreigners

WeChat Pay similarly now supports foreign-issued cards. The process requires a WeChat account, a Chinese phone number verification or verification via another WeChat user, and then adding your foreign card. The acceptance is similar to Alipay — wherever WeChat Pay QR codes are displayed.

In practice, most visitors find Alipay slightly easier to set up for foreigners because it has a dedicated "foreign visitor" interface in its latest versions.

Practical limitations

Mobile payment works at the vast majority of everyday merchants in cities. Exceptions include:

• Some very small rural vendors who transact cash only.
• Government-operated ticket counters at smaller attractions.
• Some markets where the vendor has only a personal QR code linked to their Chinese bank account (which a foreign card cannot transfer to).

Keep ¥500–1,000 in cash as backup for situations where mobile payment is not available.

Foreign cards at traditional POS terminals

Visa, Mastercard, and American Express are accepted at:

• International hotels (four-star and above in major cities, reliably).
• Airport duty-free shops and some airport restaurants.
• Large Western-brand chain restaurants and hotels.
• Some upscale department stores in Shanghai, Beijing, and Shenzhen.

They are not reliably accepted at local restaurants, convenience stores, taxis, market stalls, or most practical day-to-day spending locations. Do not rely on a foreign card as your primary payment method.

Currency limits and customs declarations

Chinese customs regulations on currency:

• Foreign currency: bring in up to USD 5,000 equivalent without declaration; above this, declare at customs. [VERIFY: current customs threshold — May 2026]
• RMB: carrying more than ¥20,000 in cash across the border requires customs declaration in either direction. [VERIFY: current RMB carry limit — May 2026]
• There is no limit on how much foreign currency you can bring into China — only the declaration requirement above the threshold.
• Taking large amounts of RMB out of China is restricted — the limit for taking RMB out is ¥20,000. [VERIFY: current outbound RMB limit — May 2026]

In practice, most tourists do not come close to these limits. The declaration requirements matter for business travellers or those carrying significant cash.

Converting RMB back when you leave

Leftover RMB can be converted back to a foreign currency at Bank of China branches, international airport exchange desks, and some banks in your home country. The rate at exit is usually slightly worse than entry. Receipts from your original exchange transaction speed up the process at bank branches (they may not always be required but can be helpful). [VERIFY: current Bank of China policy on exit conversion documentation — May 2026]

Small amounts of RMB can simply be kept as mementos or for a return trip — the notes are legal tender indefinitely.

Counterfeit notes

Counterfeit ¥50 and ¥100 notes circulate occasionally. The risk when withdrawing from a bank ATM is essentially zero. The risk when receiving change from unlicensed money changers or from the highest-denomination notes at cash-heavy environments (markets, tuk-tuk drivers) is slightly elevated. Learn the basic security features: watermark visible when held to light, colour-shifting ink on the denomination number on ¥100 notes, raised printing you can feel on text. Most locals check notes habitually.

Tipping

Tipping is not part of Chinese culture and is not expected in restaurants, taxis, or hotels. In tourist-heavy areas (Guilin, Lijiang, Yangshuo), guides working with international tour groups may now expect a tip — but this is a shift driven by international tourist expectations rather than Chinese custom. At upscale international hotels that cater heavily to Western guests, bellhops and concierge staff may appreciate a small tip.

For local transport and restaurant meals, simply paying the stated price is correct.

Frequently asked questions