Travel Reference
In-Depth Information
China UnionPay is China's single card-processing company, similar to PLUS or Cirrus.
It connects banks and businesses within China and abroad. You'll see its logo on your bank
card, at ATMs, on online shops, and anywhere that it can be used. Many international Visa,
MasterCard and other cards can also be used here. However, you may need to use particular
banks or ATMs for your card to work, and in some cases international credit cards won't be
accepted at all. If you encounter difficulty using your debit or bank card in Beijing, check
with your bank to see which Chinese banks it cooperates with.
ICBC, one of China's biggest banks
The official currency used in Beijing is the
rénmínbì
(
人民币
). This is the legal tender for
mainland China, but not Taiwan, Hong Kong, or Macau, although on some occasions it may
be accepted. It shares the name of the bank by which it is issued, the Zh
ō
ngguó Rénmín
Yínháng (
中国人民银行
), or rather, the People's Bank of China, the central bank.
Bì
(
币
)
means “currency,” so it can be said to mean “the people's currency.” The currency code can
be RMB or CNY, and the symbols used include ¥ and
元
.
The basic unit of the
rénmínbì
is the
yuán
(
元
), often colloquially referred to as the
kuài
(
块
), which means “piece” and is the equivalent of saying “buck” or “quid.” The
yuán
is
