The Chinese currency is the Renminbi or Yuan, and the exchange rate is approximately 元6.83 = $1. To find the most up to the minute exchange rate, go to XE.com Currency Converter
If you’re on a tight budget you’ll find you’ll get good value for money in China, especially in comparison to western countries. As in most places the prices in the cities are more expensive, and the prices of everything (as well as availability) go up around the time of holidays and festivals. However, stick to a budget and you’ll be right as rain – here are some sample prices to help you:
Chinese tea = Longjing Tea, the most famous green tea in china, costs anywhere from ¥60-6000 per 500g but on average you might pay ¥300 per 500g.
Silk scarf = ¥80
Jade necklace = while you might not have ¥10,000 spare to spend on one, you’ll be glad to know you can pick up a lovely souvenir jade necklace for ¥50.
Entrance to the Great Wall = from ¥40 to the Balding Great Wall in Beijing
Panda poo souvenirs = ¥50-200
Average room prices = ¥50 for a hostel, ¥300 for a mid-range hotel and ¥630 if you’re splashing out!
Average meal prices = if you’re doing things on the cheap then you can pick up a meal for as little as ¥40, a meal in an expensive city restaurant will set you back ¥200 or more.
These prices are in Chinese renminbi yuan, are correct as of 03/25/09 and are subject to change.
Tipping isn’t essential in China. Hotel staff and bellboys may be used to tips from travelers but elsewhere it is neither expected nor required. Some restaurants and larger hotels charge a service fee so you don’t need to tip on top of this. Tipping taxi drivers isn’t required.
Banks are generally open from 9 am till 4 or 5 pm and some will close for lunch from midday until 1 pm. All major credit cards are widely accepted in the cities but ATMs are not so widespread outside of the airport, shopping centres and large hotels. If taking traveler’s checks these are best in US dollars.
*The small print
We’ve tried to make this destination guide as accurate as possible but please double check the essentials like visas, health and safety, airport information etc with the relevant authorities before you travel. STA Travel takes no responsibility for loss, injury or inconvenience caused as a result of this guide. All prices listed are in the currency of the destination, unless otherwise stated.