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Currency : Ren Min Bi or Yuan or RMB or "Kuai"

The RMB (Renminbi) is the official currency. The basic unit of RMB is the yuan, also known as kuai, divided into 10 jiao, which is again divided into 10 fen. Paper notes are issued in denominations of 1, 2, 5, 10, 20, 50 and 100. Foreign currency can be exchanged at the Bank of China, exchange desks at the airport.  Hold onto a few of your exchange receipts as, theoretically, you’ll need them if you want to exchange any remaining RMB at the end of your trip.  RMB has been very strong during the last one year and the rate has been increased 9% to exchange of USD.  Updated on Jun.15, 2007, the live mid-market rate as 1USD = 7.598RMB and 1 EURO = 10.060RMB.

100 RMB is the maximum denomination note and has two types although only one in common circulation.  The older style is blue and is pretty much gone but is still valid currency.

50 RMB has two type notes, both in common usage, newer type to the left.  The older, yellow type is larger and proved a big target with currency forgers but this style is dying out slowly.

20 RMB Note                                                10 RMB Note

5 RMB Note                                                  2 RMB Note                              1 RMB Note                               1 RMB Coin

RMB0.5 (5 jiao) Note                      RMB0.5 (5 jiao) Coin           RMB0.2 (2 jiao) Note                             

  RMB0. (1 jiao) Note                         RMB0.1 (1 jiao) Coin                               

Travelers Checks

Travelers checks from most of the world’s leading banks and issuing agencies (the most obvious being Citibank, Amex, Visa, etc.) are easily cashed in Beijing – at the main branches of the Bank of China and exchange desks at the airport.  One branch Bank of China situated in the Holiday Inn Lido, which is 5 minutes walking distance from Beijing Centre Apartments.  Bank of China Lido Branch opens from 9:00am – 4:30pm, Monday to Saturday (except the Public Holidays)

Credit Cards
In Beijing, most major credit cards -- including American Express, Diner's Club, Federal Card, JCB, MasterCard and Visa -- are accepted at major hotels, restaurants and shopping malls.  But some local restaurants and small shops accept cash payment only.

ATMS

A growing number of ATMs are springing up in Beijing.  Cards with Global Access, Cirrus, Interlink, Plus and Star are all commonly accepted. You can also get cash advances on Visa, MasterCard and Amex at many ATMs.  There are two ATMs situated in Holiday Inn Lido with walking distance only from Beijing Centre apartments. 

Tipping

Tipping is generally not expected in mainland China. But porters are the notable exception and will expect something.

Beijing Foreign Banks Overview

Banking hours and days vary from bank to bank in Beijing. However, most local banks are open from 9:00 am to 4:30pm and have branches that are open on Saturdays and Sundays.

The services offered by the branches set up by international banks in China are getting less and less limited 5-year transition period, after China entered WTO, was ended by the end of 2006. More and more foreign banks in China have the authority to manage RMB business.

Major Foreign Banks in Beijing

Australia & New Zealand Banking Group Ltd.  
Address: Flat 17,No2 building, Guanghua Changan Mansion, No7 Jianguomennei Dajie, Beijing 100004, China

Address in Chinese: 北京市建国门内大街7号光华长安大厦2座17楼
Tel: +86-10 6510 2929

Open: Monday – Friday, 9:00am-4:30pm

Bangkok Bank
Address: East 1^st floor, Xinhua Insurance Mansion, No.12 Jianguomenwai Dajie; Beijing 100022, China

Address in Chinese: 北京市建国门外大街12甲新华保险大厦一楼东侧

Tel: +86-10 6569 0018

Open: Monday – Friday, 9:00am-12:00am, 1:00pm-4:00pm

Bank Austria AG - Beijing Rep Office
Address: Room 2909, NO.1 Jianguomenwai Dajie, Beijing 100004, China

Address in Chinese: 北京市建国门外大街1号2909 

Tel: +86-10 6505 5352
Fax: +86-10 6505 5354

Open: Monday – Friday, 9:00am-12:00am, 1:30pm-5:30pm

Bank of America
Address: Room 2609, No.1 Building, Guomao Mansion, No.1 Jianguomenwai Dajie, Beijing 100004, China

Address in Chinese: 北京市建国门外大街1号 国贸大厦1座2609室

Tel: +86-10 6505-3508/9
Fax: +86-10 6505-3509

Open: Monday – Friday, 9:00am-12:00am, 1:00pm-6:00pm

Bank of China - Head Office
Address: NO.1 Fuxingmennei Dajie, Beijing 100818, China

Address in Chinese: 北京市阜兴门内大街1号
Tel: +86-10 6659 6688

Open: Monday – Friday, 9:00am-12:00am, 1:00pm-5:00pm

Banque National de Paris
Address: Flat 19, Office Building No1, No.1 Jianguomenwai Dajie, Beijing 100004, China

Address in Chinese: 北京市建国门外大街1号 1座写字楼19 层
Tel: +86-10 6505 0888;

Open: Monday – Friday, 9:00am-12:00am, 1:00pm-6:00pm

Calyon Cooperate and Investment Bank
Address: Room 3506 No.2 building, Guomao Mansion Beijing 100004, China
Address in Chinese: 北京市国贸大厦2座3506室
Fax: +86-10 6500 4479

HSBC Beijing Branch汇丰

Address: Beijing Zhongliang Plaza, No.8 Jiangguomennei Dajie, Dongcheng District, Beijing 100005, China

Address in Chinese: 北京市东城区建国门内大街8号中粮大厦A座

Tel:  +86-10 6526 0668
Fax: +86-10 6526 0669

Open: Monday – Friday, 9:00am-5:00pm

Standard Chartered Bank
Address: Oriental Plaza, No.1 East Chang An Ave., Dong Cheng District, Beijing 100005, China
Address in Chinese: 北京市东城区东长安街1号 东方大厦

Tel: +86-10 8518 8838

Open: Monday – Friday, 8:30am-12:00am, 1:30pm~ 5:30pm

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