Your Complete Guide to Money in China
Master the yuan, understand tipping etiquette, and budget like a pro
Currency Essentials
China's currency is the Chinese yuan (CNY), symbolized by ¥. You'll also hear it called "renminbi" (RMB), which literally means "people's currency." The yuan is divided into 10 jiao (角), and each jiao into 10 fen (分), though fen are rarely used today.
Tipping Culture in China
Here's the thing about tipping in China: it's generally not expected and can even be refused. This stems from cultural values around fairness and the belief that good service is part of the job, not something requiring extra payment.
Service | Tip Amount | Notes | |
|---|---|---|---|
| 🍜Restaurants | 0% (no tip) | Service charge included or not expected | |
| 🏨Hotels | ¥10-20 for porters | Only in luxury hotels | |
| 🚕Taxis | Round up fare | Or no tip at all | |
| 🗺️Tour guides | ¥50-100/day | If service was exceptional | |
| 💆Spa/massage | ¥20-50 | High-end establishments only |
I tried to tip our waiter in Beijing and he actually chased us down the street to return the money! It was embarrassing but also kind of sweet.
Daily Budget Breakdown
Your costs in China will vary dramatically depending on the cities you visit and your travel style. Beijing and Shanghai are significantly more expensive than smaller cities or rural areas.
Getting and Using Money in China
ATMs and Cash
ATMs are widely available in cities, and most accept international cards (look for the Visa, Mastercard, or UnionPay logos). However, always have cash backup as some smaller establishments don't accept foreign cards.
Credit Cards
Credit cards are accepted at hotels, upscale restaurants, and major retailers in big cities. However, China is increasingly cashless through mobile payments, which can be challenging for tourists to access.
Currency Exchange
- Best rates: Bank of China branches
- Most convenient: Airport exchange counters (slightly worse rates)
- Avoid: Hotels and tourist areas (poor rates)
- Tip: Exchange some money before arrival, as airport ATMs can be crowded
Regional Cost Differences
Not all of China is created equal when it comes to costs. Here's what to expect:
Tier 1 Cities (Beijing, Shanghai, Shenzhen)
- Most expensive for accommodation and dining
- International food options abundant but pricey
- Excellent public transportation keeps transport costs reasonable
- Attractions often have higher entrance fees
Tier 2 Cities (Xi'an, Chengdu, Hangzhou)
- 30-50% cheaper than Tier 1 cities
- Great balance of amenities and affordability
- Fantastic local food scenes at reasonable prices
- Many historic sites with modest entrance fees
Rural Areas and Small Cities
- Significantly cheaper but fewer English services
- Limited accommodation options
- Cash-only establishments common
- Incredible value for authentic experiences
China taught me that good service doesn't require tipping, and the most delicious meals cost less than a coffee back home.
Common Money Mistakes to Avoid
- Over-tipping: This can make locals uncomfortable and mark you as an inexperienced tourist
- Relying only on cards: Always carry cash, especially outside major cities
- Ignoring mobile payments: While tricky to set up, they're incredibly convenient once working
- Not negotiating: At markets and with street vendors, haggling is expected
- Forgetting tax refunds: Keep receipts for purchases over ¥500 at qualifying stores
Need help planning your budget for specific destinations in China? Check out our detailed country guide for China or learn about staying safe with your money while traveling.