 Currency: 1 Renminbi Yuan (RMBY) = 10 chiao/jiao or 100 fen. Notes are in the denominations of RMBY100, 50, 10, 5, 2 and 1, and 5, 2 and 1 chiao/jiao. Coins are in denominations of RMBY1, 1.5 chiao/jiao, and 5, 2 and 1 fen. Currency exchange: RMBY is not traded outside China. Foreign banknotes and tavellers cheques can be exchanged at branches of The Bank of China. In hotels and Friendship Stores for tourists, imported luxury items such as spirits may be bought with Western currency. Scots and Northern Irish banknotes cannot be exchanged. Credit & debit cards: MasterCard, Visa, Diners Club, Federal Card, East-American Visa, Million Card, JCB Card and American Express are valid in major provincial cities in designated establishments. Travellers cheques: To avoid additional exchange rate charges, travellers are advised to take travellers cheques in US Dollars. Currency restrictions: Import and export of local currency is limited to 6000RMBY. Import of foreign currency is up to US$1000 (US$5000 for non-residents). Higher amounts should be declared upon arrival. Export of foreign currency is limited to the amount imported and declared. Exchange rate indicators The following figures are included as a guide to the movements of the Renminbi against Sterling and the US Dollar:
| Date |
Nov ’01 |
Feb ’02 |
May ’02 |
Aug ’02 |
| £1.00= |
11.66 |
11.84 |
12.06 |
12.59 |
| $1.00= |
8.28 |
8.28 |
8.28 |
8.28 |
Banking hours: Mon-Fri 0900-1200 and 1400-1700 |
