The official currency in China is the Renminbi (RMB or CNY). The basic unit is the Yuan, which equals 10 Jiao, which is then divided into 10 Fen. The conversion among the three can be displayed as below: 1 Yuan = 10 Jiao = 100 Fen. RMB is issued both in papers and coins. Paper currency comes in 1,2,5,10,50 and 100 notes. Paper Jiao come in denominations of 1, 2 and 5. The denominations of coins are 1 Yuan; 5, 2 and 1 Jiao; and 5, 2 and 1 Fen. 1 and 2 Fen notes are rarely used as they have no purchasing power. All coins are also used but are more common in larger cities.
Money exchange facilities for both currency and travelers' checks are available at major airports, hotels, and department stores. Please note that hotels may only exchange money for their guests. Exchange rates fluctuate in line with international financial market condition and are published daily by the State Exchange Control Administration.