Money · 5 min read · Updated 2026-03-12

Money in China: Currency, Exchange, ATMs & How Much Things Cost (2026)

Don't pre-load money into Alipay. It charges your card directly, like Apple Pay.

Quick steps

  1. 1 USD ≈ 7.2 CNY / 1 EUR ≈ 7.8 CNY (March 2026)
  2. Exchange at Bank of China in China (best rates) or your bank before flying
  3. ATMs accept Visa/Mastercard — use Bank of China or ICBC ATMs
  4. Alipay/WeChat Pay cover 99% of purchases
  5. Carry 200-300 CNY cash for emergencies

Understanding Chinese currency

Chinese currency is officially called Renminbi (人民币, RMB). The unit is Yuan (元, ¥), also called 'kuai' (块) in spoken Chinese. 1 yuan = 10 jiao (角, also called 'mao' 毛) = 100 fen (分). In practice, fen are obsolete and jiao are rare.

Banknotes come in 1, 5, 10, 20, 50, and 100 yuan denominations. Coins: 1 yuan, 5 jiao, 1 jiao. The 100 yuan note (~$14 USD) is the largest, so you won't be carrying huge wads of cash.

Currency code: CNY (internationally) or RMB (in China). Both refer to the same thing. Prices in China are written as ¥35 or 35元.

How to get Chinese yuan

Best option: Just use Alipay and WeChat Pay. Seriously — you can go an entire trip without touching physical cash. QR code payments work at 99% of businesses, from luxury malls to street food stalls.

For cash: Exchange at Bank of China branches inside China. They offer the best exchange rates and accept all major currencies. Bring your passport. Airport exchange counters have worse rates but work in a pinch.

ATMs: Bank of China, ICBC, and China Construction Bank ATMs accept international Visa and Mastercard. Withdraw up to 2,500-5,000 CNY per transaction. ATM fees vary: Chinese banks charge 0-15 CNY, your home bank may add 1-3%. Use fee-free cards like Wise or Charles Schwab to avoid foreign ATM fees.

How much things cost in China (2026 prices)

Food: Street food meal 15-30 CNY ($2-4). Casual restaurant meal 30-80 CNY ($4-11). Nice restaurant 100-200 CNY ($14-28). Coffee at Starbucks 30-40 CNY ($4-5.50). Local cafe coffee 15-25 CNY ($2-3.50). Beer at convenience store 5-10 CNY ($0.70-1.40).

Transport: Metro ride 3-10 CNY ($0.40-1.40). Didi ride across town 20-60 CNY ($3-8). High-speed train Shanghai→Beijing 553 CNY ($77). Domestic flight Shanghai→Chengdu 500-1500 CNY ($70-210).

Accommodation: Hostel dorm 50-100 CNY ($7-14). Budget hotel 150-300 CNY ($21-42). Mid-range hotel 300-600 CNY ($42-83). Luxury hotel 800-2000 CNY ($111-278).

Daily budget: Backpacker 200-400 CNY/day ($28-55). Comfortable mid-range 500-1000 CNY/day ($70-139). Luxury 1500+ CNY/day ($208+). China is remarkably good value compared to Japan, South Korea, or Southeast Asia tourist areas.

💡 Pro Tip: The 100 CNY note is the largest denomination. For large purchases, this means counting lots of bills. This is why everyone uses mobile payments — even for 10,000+ CNY transactions. Set up Alipay before you fly.