Banking
- The basic unit of Chinese currency is the Yuan or Renminbi (People’s currency) abbreviated RMB. The yuan is divided into 10 jiao or mao. The jiao is divided into 10 fen. Chinese currency is available in 100, 50, 20, 10, 5 and 1 yuan notes.
- A limited number of Automatic Teller Machines (ATMs) that accept foreign credit cards.These machines issue withdrawals in Chinese currency only.
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Residents in China will soon have more choices for bank cards as more foreign banks, including HSBC, Citibank, and Standard Chartered, are preparing to open RMB deposit businesses in the country, a recent report by the Beijing Business News said. |
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HSBC Holdings, Europe's largest lender, launched private banking services in China on Monday as foreign banks including Citigroup target the country's fast-growing market for services to wealthy clients. |
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Guangzhou Commercial Bank was established in September 1996. It is the only shareholding
commercial bank owned by government. |
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Dresdner Bank AG is one of Germany's largest banking corporations and is based in Frankfurt |
| Chinese BanksForeign Banks |
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Foreign Banks Join RMB Savings Business |
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Concert by Lang Lang and The Philadelphia Orchestra |
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