The currency in mainland China is the Renminbi, or RMB. The currency is divided into yuan, the largest denomination, followed by the jiao, which is one-tenth of a yuan. Smallest is the fen, which is one-hundreth of a yuan.
The currency in Hong Kong is the Hong Kong dollar. Like with U.S. currency, smaller units are called cents.
In mainland China, the exchange rate is roughly 6.8 RMB to one U.S. dollar in September 2010. In Hong Kong, the exchange rate is roughly 7.5 Hong Kong dollars to one U.S. dollar. The exchange rate fluctuates often, so check with your bank on current exchange rates.
While cash remains the common way to pay in China, you can use your foreign credit card or debit card at some ATMs and larger businesses, such as hotels and department stores. Banks often charge hefty fees to withdraw money overseas, so check your bank's policies ahead of time. When you withdraw money with your ATM card in China, you will receive the money in Chinese currency, at that day's bank rate of exchange.
