Renminbi (RMB) is the unit of currency used in China. One yuan is equal to 10 jiao or 100 fen. Yuan is issued in the note form with the Chinese character “圆（yuan)” printed on it. Fen is not frequently used.

There are both new and old versions of paper notes and coins. Currency exchanges can be conducted in such places as the branches and counters of Bank of China, counters of each major bank inside the airport, hotel front desks and supermarkets that are frequented by foreigners.

You can exchange Japanese Yen or US Dollar for Chinese RMB, and keep your exchange vouchers. The exchange rate is almost the same everywhere in China. Traveler’s checks can also be exchanged, but with different procedures at different banks.

Also, you need to produce your passport when exchanging traveler’s checks. At the airport, you can also convert the remaining RMB back to the currency you want, but the exchange voucher is needed.