About the Chinese Money
The renminbi is the legal tender in the Chinese mainland. The official abbreviation is CNY, although also commonly abbreviated as “RMB”.
· Short official name: CNY (China Yuan)
· Chinese: 人民币(Renminbi, or RMB for short)
· Monetary unit: Yuan (元)
· Fractional units: Jiao (角) and Fen (分)
1. I often hear people say “kuai”; does it refer to RMB?
Answer: Yes, Chinese people use kuai for Yuan and mao for Jiao in their daily life.
2. What is the conversion rate for Yuan, Jiao and Fen?
Answer: 1 Yuan = 10 Jiao = 100 Fen
3. What are the main notes used now?
Answer: Currently, the paper money used is 1 Jiao, 5 Jiao, 1 Yuan, 5 Yuan, 10 Yuan, 20 Yuan, 50 Yuan, and 100 Yuan. The coin of 1 Yuan, 5 Jiao and 1 Jiao is also used for circulation.
Easy Currency Exchange in Chengdu
It is advisable to prepare a sum of RMB before you set off travel to China, but money exchange service is easily available in China.
1. currency exchange at banks
Mostly people choose going banks for exchange because it is safe and convenient. Major Chinese banks are commonly found in the city, such as Bank of China, the Industrial and Commercial Bank of China, the Agricultural Bank of China, and the Construction Bank of China. To exchange money, people need to make an appointment one day in advance with the institutions and offer written documents about the currency and amount to exchange.
Many banks have the number-call practice with the display above the service windows indicating the number to be served and the window for the service.
Customers are required to provide passports and fill forms for currency exchange. Some institutions will record the identification number or even have the passport photo copied.
You can make phone calls to the banks for more information about money exchange service.
Bank of China: 95566
China Construction Bank: 95533
Industrial and Commercial Bank of China: 95588
Bank of Communications: 95559
China Merchants Bank: 95555
Agricultural Bank of China: 95599
2. currency exchange at the airport
Banking service outlets for currency exchange can be found at Chengdu Shuangliu International Airport.
T1 (terminal 1):
Travelex Currency Exchange: International Departure Hall; ICE Currency Exchange: International and Domestic Arrival Hall; ATM can be found in the Check-in Hall of Departure Hall.
T2 (terminal 2):
Bank of China, Domestic Departure Hall; ICE Currency Exchange, check-in Hall; ATM Services
ATM can be found on the north and south of Check-in Hall and Arrival Hall
Notice for Money Exchange
1. Exchange money at your hotel or choose the bank nearest to the hotel for a large-amount service;
2. Do not exchange money with street vendors or the small shops in order not to get involved in illegal operations or be cheated with counterfeit cash;
3. Prepare enough money when you are planning travels to remote areas, where you may have difficulty to have currency exchange service or use the credit card;
4. You may be offered large-amount notes at banks or other service outlets, but remember to ask for smaller ones when you think necessary.