Banking Service

Chinese Money and banking
Money
Chinese Renminbi is made up of both paper money and coins, which is formally called Yuan ( ¥ ), more often known as Kuai . It breaks down into units of ten Mao or Jiao , and one hundred fen . Paper money was invented in China. The bills available are ¥ 100, ¥ 50, ¥ 20, ¥ 10, ¥ 5, ¥ 2 and ¥ 1. Coins are usually use for small change you find coins of 1 kuai, 1Jiao, 2Jiao and 5Jiao. Rarely used anymore, but still there are the “fen” coins. Be aware that at present China is suffering from a rash of counterfeiting . Fake notes are usually produced with color photocopiers and are easy to tell as the paper feels different. A few years ago you were only likely to see fake ¥ 100 notes, but these days there are even fake ¥ 50 notes in circulation.

Banking
The larges branches of major banks should be able to exchange foreign currency with a passport. For current official rates, the best are the Bank of China, the CITIC Industrial Bank, the Hong Kong Bank, and the Shanghai Bank.

If you consider opening a bank account, there are many foreigners' banks in Beijing licensed to conduct retail banking.

ATMs are all around town and will allow you to withdraw Yuan from both foreign and local accounts.

The majors banks in Beijing are:

Bank of China, Beijing
中国银行
Add: 8 Yabao Lu, Chaoyang District
朝阳区雅宝路 8 号楼
Tel: 6519 9114, 6519 9432
Open: 9am-noon, 1-5pm

CITIC Industrial Bank
中信实业银行
Add: Block C, Fuhua Mansion , 8 Chaoyangmen Beidajie, Dongcheng District
东城区朝阳门北大街 8 号楼富华大厦 C
Tel: 6554 2388
Open: 9am-5pm

The Hong Kong and Shanghai Bank
香港上海银行
Add: Ground Floor, block A COFCO Plaza, 8 Jianguomennei Dajie
建国门内大街 8 号楼中粮广场
Tel: 6526 0668
Open: Mon-Fri 9am-5pm

Master Card
万事达
Add: 7 Jianguomennei Dajie, Bright China Chang An Building
建国门内大街 7 号楼光华长安大厦
Tel: 6510 1090
Open: Mon-Fri 9am-5pm

Citibank
花旗银行
Add: China Bright Changan Building Jianguomennei Dajie
建内大街光华长安大厦１０１
Tel: 6510 2458

Swiss Bank Corp.
瑞士银行
Add: Room 3623-3624, China World Tower , CWTC 1 Jianguomenwai Dajie
建外大街 1 号，国贸写字楼 CWTC3623-3624 房间
Tel: 6505 2213 ext 5

Bank of East Asia Ltd
东亚银行
Add: Fuhua Plaza Jianguomen wai Dajie
建外大街８号富华大厦
Tel: 6554 3110

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