China is a mostly cash-based society, especially in smaller cities and locales further away from large tourist attractions. Credit and Debit cards are rarely accepted, so make sure you carry enough cash.
You can exchange your home currency for Renminbi (AKA: RMB, Chinese Yuan, Kuai.) before you leave for China, exchange money at your hotel, or take cash from an ATM after your arrival. We do not typically recommend exchanging money at the bank in China, as you will likely spend much time waiting.
Using a debit card to take money out of an ATM or cash machine may prove to be the easiest and most convenient way to get local currency. 24-hour ATMs are common in all the large Chinese cities and can be operated in English.
Not every card works at every machine, so it’s best to stick with major banks such as Bank of China, HSBC, ICBC, or China Construction Bank and look for machines with your card system’s logo.
More and more places in China, including hotels, fancy restaurants, and foreign brand name stores, accept international credit cards such as Visa, American Express and Master Card, so it’s still worth bringing your credit card with you.
Using foreign credit cards in China will seemingly always incur a foreign currency exchange fee from the issuing bank which can be expensive and add up fast, but it is easier to use them for big payments, like hotels, tours and major shopping.
The best thing to do is to exchange some money before arriving in China, bring at least one credit card and one debit card, and prepare to exchange more money upon arrival. Please note that you should let your bank back home know that you will be using your card in China.