Currency Unit & Exchange Rate

The Chinese currency is the reminbi yuan, divided into 100 fen, or cents, 10 cents being known as a jiao.

The following denominations are in circulation:

Notes:  CNY 1, 2, 5, 10, 50, and 100; 1, 2, 5 and 20 jiao.

Coins:  CNY 1; 1, 5 jiao; 1, 2 and 5 jiao

Hong Kong Dollars may be used in the Shenzhen and Zhuhai SEZs (Special Economic Zones).

Opening a Bank Account

Applicants will require some form of identification (usually a passport and utility bill will be sufficient); the procedure takes between 5-10 working days. Only those banks authorized to conduct foreign currency exchange are able to service expatriate accounts. Foreign residents may open an account with the Bank of China. Most foreigners can open accounts in yuan. Major branches will open accounts in dollars, sterling or yen and money can be transferred from overseas. China has a limited number of ATMs outside of the major cities.

Banks

The central bank and bank of issue is the,
People’s Bank of China
No.32 Chengfang Street
Xi Cheng District
Beijing 100800
P.R.China
T: (86) 10-6619-4114
E: This email address is being protected from spam bots, you need Javascript enabled to view it

Main Commercial Banks:

Agricultural Bank of China
23A Fuxing Lu
Haidan Qu
Beijing 100036
T: (86) 10-6847-5321
F: (86) 10-6601-6869

Bank of China
Head Office
1 Fuxingmen Nei Dajie
Beijing 100818, China
SWIFT: BKCH CN BJ
TLX: 22254 BCHO CN
T: (86) 10-6659-6688
F: (86) 10-6659-3777

Beijing Branch
8 Yabao Lu, Chaoyang District
Beijing 100020, China
SWIFT: BKCH CN BJ 110
TLX: 210246 BOCCB CN
T: (86) 10-6519-9114
F: (86) 10-6519-9572 / 10-6519-9586

BOC Int. Holdings Limited Beijing Representative Office
Room 801, Office Tower
East One, Oriental Plaza
NO.1 East Chang An Avenue
Beijing 100738, China
T: (86) 10-8518-5505
F: (86) 10-8518-4063
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Shanghai Branch
200 Mid. Yincheng Road
Shanghai 200120, China
SWIFT: BKCH CN BJ 300
TLX: 33062 BOCSH CN
T: (86) 21-3882-4588
F: (86) 21-6472-9384

BOC Int. (China) Limited
39/F., Bank Of China Tower
200 Yincheng Road Central
Pudong, Shanghai, 200120, China
T: (86) 21-6860-4866
F: (86) 21-5888-3554
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Bank of Communications Limited
18 Xian Xia Lu,
Shanghai 200335
T: (86) 21-6275-1234 / 21-6275-2191

Bank of Shanghai Ltd
585 Zhingshan Lu (E2)
Shanghai 200010
Customer Service Hotline: (86) 21-962-888
T: (86) 21-6337-0888
F: (86) 21-6337-0777
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Guangdong Development Bank
83 Nonglinxia Lu
Dongshan Qu, Guangzhou
Guangdong 510080
T: (86) 20-8731-0888
F: (86) 20-8731-0779