Foreign Currency Conversion
Updated: 2011-06-22 10:47
Conversion services are available in China for most foreign currencies. The Chinese bank handles conversion of the above-mentioned foreign currencies into RMB or vice versa.
China's law governing foreign exchange bans the circulation of foreign currencies and the setting of accounts with foreign currencies in the People's Republic of China. For the convenience of foreigners and residents from HK, Macao and Taiwan traveling in Mainland China, the Bank of China and other designated Chinese banks handles the conversion into Renminbi of foreign travel checks and credit cards as well as the conversion of foreign currencies and the New Taiwan dollar in cash. Also for the convenience of travelers in China, some hotels, restaurants and stores in China also handles the conversion of foreign cash into RMB. So far the following foreign credit cards are acceptable in China: Master, Visa, American Express, JCB, Diners.