The Chinese are not big on credit cards. That is because they do not like to be in debt, even if it is short-term. While the use of credit cards is gaining popularity among young people, the adoption rate remains low compared to the West. Foreign plastic is therefore of limited use, so always carry enough cash.
Where accepted, credit cards useable in China include Visa, MasterCard, AmEx and JCB. They offer a slightly better exchange rate than banks. You should be able to use credit cards at upmarket hotels and restaurants, supermarkets and departmental stores. You cannot use credit card to buy train tickets, but the Civil Aviation Administration of China (CAAC) offices readily accept international Visa cards for air ticket purchase. Certain credit cards offer insurance and other benefits relevant to your travel.
Money can also be withdrawn at certain ATMs in large cities using credit cards such as Visa, MasterCard and Amex. Cash advances have become fairly common at head branches of the Bank of China, even in places as remote as Lhasa. A 4% commission charge applies, except on AmEx cards.
Chinese currency is called renminbi (RMB), which means “People’s Currency”. The popular unit of RMB is yuan. One yuan equals 10 jiao. There are parts of China where the yuan and jiao are also known respectively as kuai and mao. Chinese currency is issued in the following denominations: one, five, ten, twenty, fifty and a hundred yuan.
It is a common practice for visitors to tip hotel bellboys, tour guides and drivers in recognition of their good service. It is not customary to leave tips at hotels or local restaurant as the bills usually include a 10-15% service charge.
