Money in China

Basic unit is the yuan (RMB), equal 10 цзяо (or мао), in turn equal 100 фынь (фэнь). In circulation there are denominations in 1, 2, 5, 10, 50 and 100 yuans, 1, 2 and 5 цзяо, and also 1, 2 and 5 фэнь. Yuan - unique official payment means for territories of the Peoples Republic of China.

Banks officially work from 09.00 till and from 14.00 till, however many banks establish, distinct from standard, the work schedule.

The currency can be exchanged in the main branches of Bank of China, and also in their branches in some hotels, the international airports (most a favourable rate), at railway stations and in some large shopping centres. Thus it is necessary to keep the checks received at an exchange as the return exchange of the remained yuans can be carried out only at their presentation. For exchange it is necessary to present the customs declaration or the inquiry from bank, and also the document proving the identity. The exchange of money at changed in the markets is fraught with attraction to a criminal or administrative liability of infringement of rules about currency transactions. The old or damaged denominations exchange reluctantly or do not accept at all.

Credit cards are accepted in hotels and restaurants of the international class and large state department stores, and are cashed only in branches of Bank of China (commission gathering usually makes 4 %). At purchase on a credit card special gathering (1-2 % from purchase cost) is raised and on such purchase the system of discounts does not extend. Tourist checks exchange in banks on some more to a favourable rate, than cash, but points of an exchange working with checks are far not everywhere, they are most extended in branches of banks in Beijing, Shanghai, Macao, Guangzhou and Hsiamen.