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 TransferGo card in China

The TransferGo card helps you spend smarter in China. Pay in local shops, withdraw cash from ATMs, and enjoy contactless or virtual payments — all while avoiding hidden bank fees and poor exchange rates. Everything is managed from the app, so you’re always in control of your money.

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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

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.

Tip: Always pay in the local currency to get the best exchange rate and avoid extra conversion charges.

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 TransferGo card—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 the TransferGo card in China?

Just activate it in the app and start spending — online, in stores, or at ATMs.

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 TransferGo card in China?

Yes! You can use your TransferGo card for spending, withdrawing, or managing your money— with fair rates and no hidden fees.