Everything you need to know
China Currency
Travelling to or living in China? Managing your money shouldn’t be stressful. With TransferGo, you can send, spend, and exchange money affordably — so more of your money goes where it matters.
Use the GoCard in China
Open a UK bank account with us and get a GoCard for smarter spending in China. Pay in local shops, use ATMs globally, and enjoy contactless payments—all with zero hidden fees. Everything is managed from the app. Available only to UK and EU residents.
What is the currency in China?
The official currency of China is the Chinese yuan
The yuan replaced the Chinese silver dollar and various regional currencies in 1948 after the establishment of the People’s Republic of China. It is issued by the People’s Bank of China and is subdivided into 10 jiao or 100 fen.
CNY, ¥
Banknotes
¥1
¥5
¥10
¥20
¥50
¥100
Coins
1
2
5 jiao
¥1
Popular Yuan Renminbi pairings
How to spend money in China
Cash is still used in smaller towns and markets, but major cities like Beijing, Shanghai, and Shenzhen are highly digital. QR-code payments and mobile wallets like Alipay and WeChat Pay dominate daily transactions. Credit cards are accepted in hotels and international chains, but less so locally. ATMs are available in urban areas.
Tips for exchanging money in China
Use banks or authorised exchange counters for reliable rates.
Avoid airport kiosks or street exchangers.
Always pay in yuan for the best value.
Carry smaller notes for markets and taxis.
With TransferGo, you can spend directly with your GoCard—avoiding extra bank charges.
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Frequently asked questions
What is the official currency used in China?
Chinese yuan (CNY).
What is the official currency used in China?
Symbol: ¥ | Code: CNY
Can I use my home currency in China?
No, you must pay in yuan.
How can I use my GoCard in China?
Just activate it in the app and start spending—online or in stores.
Is it better to use cash or card when spending in China?
Mobile wallets are most common; cash is used in rural areas.
Are credit or debit cards widely accepted in China?
Mostly in hotels, international stores, and urban areas.
Are there ATMs available in China, and are there withdrawal limits?
Yes, mostly in cities; limits depend on the bank.
Can I use a GoCard in China?
Yes! You can use your GoCard for spending, withdrawing, or managing your money—with fair rates and no hidden fees.