Chinese Currency

Like the currency of the United States, the currencies of China come in the form of coins and notes. The Chinese currency is the Yuan Renminbi (RMB). Yuan Renminbi bill come in denominations of 100 yuan, 50 yuan, 20 yuan, 5 yuan, 2 yuan, and 1 yuan; while coins come in denominations of 1 yuan, 5 jiao, and 1 jiao, 5 fen, 2 fen, and 1 fen. 1 yuan = 10 jiao = 100 fen.

There are also other forms of currency that you may find in circulation in China, but these are the main denominations you are likely to encounter. Also, counterfeiting is a problem in China, so you should exchange money only at official money changers (such as the Bank of China, or large tourist hotels). You will also need to save your exchange receipts if you want to change any un-used RMB back into dollars at the end of your stay. If you have been given counterfeit bills and attempt to exchange them into dollars, the counterfeit money will be confiscated and you will not be given any compensation for the counterfeit money.