Friday,October 31,2014
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Banking

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  • 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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Banking Fees: New Wave of Increases

Starting July 2010, many Chinese banks increased their fees on inter-bank cash withdrawals. Lifeofguangzhou.com has collected some prices from the internet.

HSBC Starts Yuan Cross-border Trade Settlement Service

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Guangzhou Commercial Bank

Guangzhou Commercial Bank was established in September 1996. It is the only shareholding commercial bank owned by government.

HSBC

Established in Hong Kong and Shanghai in 1865, the Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Grou

Chinese BanksForeign Banks

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