China Currency & Money Guide: Exchange, Cards, and Tips

China runs largely on digital payments, but cash in Chinese yuan (CNY) is still useful for transport, markets, and smaller shops; most travellers combine WeChat Pay or Alipay with a debit card and a small cash reserve for a smooth trip.

The official currency in China is the yuan (CNY), also called renminbi (RMB), and you’ll get the best exchange rates using bank ATMs or exchanging at major banks once you arrive. According to a 2026 China money guide, 1 USD ≈ 7.2 CNY and 1 EUR ≈ 7.8 CNY (March 2026), so a 100 USD withdrawal gives roughly 720 CNY, enough for a couple of days of mid‑range travel. For Singaporeans, that’s roughly 1 SGD ≈ 5.3–5.4 CNY in early 2026, based on mid‑market averages.

Credit cards work in big cities and chains, but QR payments via WeChat Pay and Alipay cover around 95–99% of everyday purchases, from metro tickets to street food. Carry 200–300 CNY in cash as backup, avoid airport and hotel exchange counters when you can, and use major banks like Bank of China or ICBC instead. The Hello app can track your spending across currencies and show automatic SGD–CNY conversions, making it easier to stay on budget while you explore China.

China’s currency is officially the Chinese yuan (CNY), also called renminbi (RMB), and all prices you’ll see in shops, transport, and restaurants are denominated in CNY.

Banknotes typically come in 1, 5, 10, 20, 50, and 100 CNY, with coins in smaller denominations for small purchases and vending machines. According to a 2026 travel money guide, common reference rates in March 2026 were 1 USD ≈ 7.2 CNY and 1 EUR ≈ 7.8 CNY, useful for quick mental math when planning your budget. For travellers from Singapore, mid‑market averages in 2026 put 1 SGD at roughly 5.3–5.4 CNY, so a 500 SGD budget translates to about 2,650–2,700 CNY for local spending.

To get accurate China exchange rate information, most travellers use currency tools or major bank websites like Bank of China, which publish live rates and are widely considered reliable for real‑time reference. Exchange rates vary slightly between banks, exchange vendors, and airport counters, so checking a live rate app before you withdraw or exchange helps you spot poor offers.

This is also where the Hello app becomes genuinely helpful: you can log expenses in CNY while tracking your overall budget in SGD or another home currency, with automatic exchange rate conversion so you always know what that 150 CNY hotpot dinner really cost you back home. Over a week, this visibility can prevent unpleasant surprises when your credit card statement arrives.

The best place to exchange foreign currency into CNY in China is usually a major bank or bank ATM, which combines safety, good rates, and clear receipts for later reconversion.

For walk‑up currency exchange, state‑owned banks offer the most reliable service and typically better rates than hotel desks or airport kiosks. Recommended names include Bank of China, ICBC, China Construction Bank, and Agricultural Bank of China, which all have official exchange counters in big cities and at many international airports. Government and city guides note that overseas visitors can change money at commercial banks, licensed money changers, and self‑service machines marked with an "EXCHANGE" logo at airports and ports, but they consistently highlight banks as the safest option.

A key rule for foreigners: you must show your physical passport to exchange foreign currencies for RMB at bank counters, and most branches operate roughly 9:00–17:00 on weekdays. Plan your exchanges for business hours, especially outside major cities. Always keep the printed exchange receipts; you’ll need them if you want to convert leftover CNY back into SGD, USD, or other currencies before leaving.

Here’s a quick comparison of common options:

Option	Pros	Cons
Major banks (Bank of China, ICBC)	Best rates, official, safe, receipts provided	Limited hours, queues in city centers
Bank ATMs	Fast, uses card network rates, available widely	Your home bank may charge fees
Airport counters	Convenient on arrival, immediate cash	Typically worse rates, extra commission
Hotels & tourist booths	Very convenient	Often highest margins, less transparent pricing

If you land late and need cash for a taxi, exchanging 500–1,000 CNY at the airport is fine, then doing larger exchanges at a bank the next day usually improves your China exchange rate significantly.

Most everyday payments in China now run through QR code apps like WeChat Pay and Alipay, with credit cards and cash playing a secondary role for visitors.

While Visa and Mastercard are accepted at many hotels, malls, and branded restaurants, local guides note that QR payments cover well over 90%–99% of real‑world transactions in larger cities: metro tickets, convenience stores, noodle shops, and even market stalls often rely on a simple QR scan instead of cards. For travellers, the smoothest setup is:

• WeChat Pay or Alipay linked to a foreign credit or debit card
• A debit card for ATM withdrawals from Bank of China or ICBC machines
• A small cash buffer (around 200–300 CNY) for cash‑only spots

ATMs from major banks are widely available in cities and transport hubs and usually accept international cards bearing Visa, Mastercard, or similar logos. City guidance from Shanghai, for example, emphasises that ATMs are everywhere except some remote towns and villages, making cash access straightforward for most itineraries.

Expect your home bank to charge either a fixed ATM fee (e.g., 5 SGD per withdrawal) or 1–3% foreign transaction fee. You can minimise costs by withdrawing slightly larger amounts less often and by always choosing “charge in local currency (CNY)” rather than converting at the ATM or payment terminal, which often adds hidden margins.

To keep mobile data costs predictable while using these apps, many travellers use Hello eSIM for China (China eSIM plans), so QR payments, maps, and messaging work from the moment they land without hunting for local SIM shops.

Tipping is not a common practice in China, and most locals do not expect or accept tips in everyday situations like taxis, small restaurants, or cafes.

In standard mainland Chinese cities, service charges are usually included in your bill, and adding cash on top can even confuse staff. Higher‑end hotels or tour operators that cater to international visitors may include an automatic service fee (often around 10–15%) in the total, clearly printed on the invoice. Otherwise, you can safely follow local norms: no tip required for taxis, street food, regular restaurants, or basic services.

That said, small gestures are sometimes appreciated on private multi‑day tours or with dedicated drivers, where giving 50–100 CNY per day to a guide is considered generous but not mandatory. Always check whether the tour price “includes gratuities” before deciding.

To keep your cash and cards safe, carry only what you need for the day in a separate wallet, and store emergency funds in your hotel safe. When handling banknotes, local advice suggests checking the watermarks, colour‑shift numbers, and textured printing on larger notes (especially 50 and 100 CNY) to avoid rare counterfeit bills, particularly around crowded tourist areas.

Money‑saving everyday tips include:

• Eating at local noodle shops or canteens (20–40 CNY per meal in 2026)
• Using metro systems instead of taxis (often 3–8 CNY per ride)
• Buying city transport cards where available to reduce single‑ride markups

The Hello app can help you log these daily costs in CNY while tracking your bigger trip budget in SGD or USD, making it easier to spot where small savings add up over a week.

Most travellers in China never encounter serious money issues, but knowing a few common scams helps you avoid unnecessary losses and stress.

The first thing to watch for is poor exchange deals at unlicensed street changers or overly convenient kiosks in tourist hotspots. Guides consistently recommend avoiding informal money changers entirely; they’re technically illegal and may offer either counterfeit notes or extremely bad rates. Airport and hotel counters are legitimate but often include hidden commissions or spreads of 5–8%, so they’re best kept for emergencies rather than large exchanges.

Another recurring issue is dynamic currency conversion (DCC) at ATMs and card terminals. When the machine offers to charge your card in SGD, USD, or EUR instead of CNY, it usually applies a much worse exchange rate. The safest rule, echoed in many traveller resources, is simple: always choose to be charged in local currency (CNY) at ATMs and card readers.

Counterfeit notes are rare but still mentioned in older travel advisories. For large denominations like 50 or 100 CNY, check:

• The watermark of Chairman Mao when held to the light
• The colour‑shifting denomination number (green to blue on 100 CNY, gold to green on 50 CNY) when tilted
• The textured feel of certain printed areas, which should feel slightly rough

Finally, be cautious of anyone insisting on paying for something in cash and then asking you for "change" in large notes, especially around nightlife districts; if a bill looks or feels different, politely decline the exchange.

Using official ATMs, major banks, and digital payments via WeChat Pay or Alipay dramatically reduces the chance of encountering China currency scams on a normal trip.

Travellers tend to ask the same practical questions about China currency and money tips, especially before their first visit, so here are concise answers.

Q: What currency is used in China, and what’s the current exchange rate?
A: China uses the Chinese yuan (CNY). In early 2026, travel guides report typical reference rates around 1 USD ≈ 7.2 CNY and 1 EUR ≈ 7.8 CNY. For Singapore, mid‑market averages put 1 SGD ≈ 5.3–5.4 CNY, though your bank’s rate may differ slightly.

Q: Where should I exchange money – at home or in China?
A: You’ll usually get a better China exchange rate by withdrawing cash from ATMs or exchanging at major banks after you arrive. Airport counters are convenient but often pricier, and hotel desks tend to be the most expensive. Bring some emergency cash (e.g., 100–200 USD or equivalent) plus a bank card.

Q: Do I need cash if China is so digital?
A: Yes, but not much. Digital wallets like WeChat Pay and Alipay can cover 90–99% of purchases in cities, but it’s wise to carry 200–300 CNY for small shops, rural areas, or times when your phone battery dies.

Q: Is tipping expected in China?
A: No, tipping is generally not part of local culture. You typically do not tip taxis, regular restaurants, or basic services. Only high‑end hotels or private tours might suggest or include gratuities; if they do, it will usually be clearly stated.

Q: How can I track my spending in CNY and SGD?
A: The Hello app lets you record expenses in CNY while viewing your budget in SGD or another home currency, using automatic exchange rate conversion and AI receipt scanning in any language. This makes reconciling your trip costs much easier when you get home.