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The Renminbi (RMB) or called the yuan, the official currency in mainland China, is issued by the People's Bank of China. Though commonly abbreviated as RMB, the official ISO 4217 of Chinese currency is CNY (symbol ¥). Notes come in denominations of ¥1, 5, 10, 20, 50, 100, 1 jiao and 5 jiao. Coins are in denominations of ¥1, 1 jiao and 5 jiao.
1 Yuan (or Kuai) = 10 Jiao (or Mao) 1 Jiao (or Mao) = 10 Fen
(The picture showing CNY USD exchange is from China.org.cn)
The RMB is not exchangeable outside China by now. Foreign cash and checks can be exchanged at most banks and some hotels. If you want to exchange currency in a hotel, you usually have to be a guest there.
1. To change RMB back into your home banknotes, you must retain the exchange slips given to you at the bank or money exchange counter.
2. Scottish and Northern Irish banknotes cannot be exchanged.
Credit cards such as Visa, Master Card, JCB, Diners Club, and American Express can be used to purchase goods in large deportment stores, to pay for hotel rooms, to buy plane tickets, and so on. However, credit cards cannot be used in small restaurants, shops, and convenience stores. ATMs can easily be found in airports, banks, hotels, shopping areas, etc.