Currency in China
The complete Chinese Yuan Renminbi (CNY) travel guide
The Chinese Yuan (CNY, also called Renminbi or RMB; symbol ¥) is the official currency of mainland China. Issued by the People's Bank of China, the yuan is a managed float — the PBOC sets a daily reference rate ("the fix") and allows trading within a ±2% band. Banknotes come in ¥1, ¥5, ¥10, ¥20, ¥50, and ¥100; coins in ¥0.1 (1 jiao), ¥0.5 (5 jiao), and ¥1. The smallest practical unit in modern China is the jiao (0.1 yuan); the fen (0.01) exists technically but is essentially obsolete.
Cash, cards, and ATMs in China
China is the most cashless major economy in the world — Alipay and WeChat Pay dominate everything from luxury hotels to street food vendors and temple donations. Foreign visitors historically struggled with these apps but since 2024, both Alipay and WeChat Pay accept foreign-issued Visa, Mastercard, and Amex cards (set up the linking before arrival). Physical cash still works but is increasingly inconvenient — many vendors will visibly prefer QR payment. ATMs at Bank of China, ICBC, and China Construction Bank branches accept foreign cards, but withdrawal limits are tight (typically ¥2,500–3,000 per transaction) and per-transaction fees of ¥50–100 are common.
Tipping culture in China
Tipping is not customary in mainland China and is sometimes refused or considered awkward. Restaurants do not expect tips; "service charges" of 10–15% are sometimes added at high-end hotels and restaurants in Beijing and Shanghai. Taxis: do not tip. Bellhops at international hotels: ¥10–20 per bag is acceptable for explicitly Western-facing properties. Tour guides at private tours: ¥100–200 per person per day is increasingly expected by guides who work with Western groups. In Hong Kong (separate currency), Macau, and tourist areas of Beijing/Shanghai, tipping culture is closer to Western norms — but mainland general practice is no-tip.
Best way to get Chinese Yuan Renminbi (CNY)
For USD-to-CNY, the best practical option is now to set up Alipay or WeChat Pay with a foreign credit/debit card linked — the apps handle conversion at near-mid-market rates (typically 0.5–1.5% spread) and you avoid cash entirely. For physical RMB, withdraw from Bank of China ATMs using a Wise or Charles Schwab debit card. Avoid currency-exchange counters at Beijing Capital and Shanghai Pudong airports — spreads exceed 6–10% above mid-market. For large transfers into China, restrictions apply: individuals are subject to ¥50,000 annual conversion limits, and most international remittance routes require business documentation.
Practical money tips for China
- •Download Alipay or WeChat Pay BEFORE arriving in China — both now accept foreign cards but setup takes 1–2 days for verification
- •Many websites and apps are blocked behind the Great Firewall (Google, Instagram, WhatsApp) — install a VPN before arrival
- •Carry your passport everywhere — required for hotel check-in, train tickets, and SIM card purchase
- •Bargaining is expected at markets (Silk Market, Pearl Market) but never in malls or chain stores
- •China plug types A, C, and I — pack a universal adapter; voltage 220V/50Hz
- •Tap water is not safe to drink anywhere in China — buy bottled or use hotel kettles
- •The "Golden Week" national holidays (early October, late January/February) see massive domestic travel — book hotels and trains months ahead
Common money scams to avoid in China
Common tourist money scams in China target Western visitors specifically: "tea ceremony" scams in Beijing (a friendly local invites you to traditional tea, then bills you ¥2,000+ at the end); fake taxi drivers at airports who demand 10x the metered fare; counterfeit ¥100 notes given as change (always check the watermark and security thread); rigged taxi meters in Shanghai (use Didi instead); and unauthorized "currency exchange" street vendors in shopping districts offering above-market rates with counterfeit notes. Always use bank-branch ATMs and verify large bills under good lighting.
Frequently asked questions
Is CNY the same as RMB or yuan?
They refer to the same currency from different angles. CNY is the ISO code. Renminbi (RMB, "people's currency") is the official name. Yuan (¥) is the unit denomination — like saying "British Pound" (currency name) vs "pound sterling" (formal). All three terms refer to the same money.
Can I use Alipay or WeChat Pay as a tourist?
Yes, since 2024 both apps accept foreign-issued Visa, Mastercard, and Amex for in-app linking. Set up before you travel (verification takes 1–2 days). Once linked, you can pay nearly everywhere in China via QR scan — restaurants, taxis, markets, vending machines.
How much cash should I bring to China?
Less than you used to need. With Alipay/WeChat Pay linked to a foreign card, daily cash needs drop to ¥200–500 for the rare cash-only spot. For a one-week trip, ¥1,500–3,000 in physical cash is more than enough.
Is CNY the same as HKD?
No — they are entirely separate currencies. CNY is mainland China's yuan (managed float). HKD is the Hong Kong Dollar (pegged to USD at 7.75–7.85). They are not interchangeable: you cannot spend CNY in central Hong Kong, nor HKD in mainland Shanghai.
What is the PBOC daily fix?
The People's Bank of China publishes a daily USD/CNY reference rate at 01:15 UTC, just before onshore trading opens. The market trades within ±2% of this fix. A weaker-than-consensus fix (higher USD/CNY) typically drags down AUD, KRW, and other Asian currencies for the rest of the session.
Convert to and from CNY
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Exchange rates refresh hourly from Frankfurter (European Central Bank reference data). Travel money information was compiled in 2026 and reflects current cash/card culture, tipping norms, and common scam patterns.