China Connection Tours, a reputable China tour operator & travel agency from 1987
Chinese Money Matters
Chinese money matters can be confusing when you are on China tours. The following information may help answer some of your questions and alleviate problems.
Chinese currency (Renminbi)
Counterfeit bills are a problem in China. Very few Chinese ever accept a RMB50 or RMB100 bill without first checking to see whether or not it is fake. Notes that are old and tattered are also sometimes hard to spend. If you are having problems spending a tattered note, you can exchange it for a new one at the Bank of China. Counterfeit bills, however, will be confiscated.
Hong Kong's currency is the Hong Kong dollar and Macao's is the Macao dollar. Both currencies are worth 7% more than Renminbi.
Remember to bring phone numbers to report lost or stolen credit cards should the need arise.
China Courier Service Corporation (a joint-venture with Western Union Financial Services in the USA) is very fast and efficient. In Beijing there is a branch at 173, Yong'an St. Tel: 86-10-63184285.
For foreign currency exchange rate please check http://www.exchangerate.com
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