China Step by StepPractical intelligence

Cash in China

Cash is the one payment method in China with a legal backstop behind it. PBC Announcement [2020] No.18, in force since 9 December 2020, states that no entity or individual may refuse RMB cash: administrative and public service units must keep a staffed cash channel, railways, buses and taxis must accept cash or offer a free alternative means of payment, large and medium merchants must keep a cash channel, and small merchants, while free to offer several payment methods, should accept cash. Breaches are investigated by PBOC branches with local authorities. That is a duty on the merchant, not a guarantee that the till has change.

Should I do it before China?

Partly — some of it belongs before you fly

Nothing about spending cash needs setting up, but two things are decided before you fly: what you carry across the border, and in what currency. RMB banknotes are capped at CNY 20,000 per person per crossing, and foreign cash above the equivalent of USD 5,000 has to be declared in writing on entry — and the exit rules are tied to that entry record. The amount to bring, though, is not something any official source answers.

How

  1. Do before arrivalKeep any RMB banknotes you carry in or out under the published limit: PBC Announcement [2004] No.18 sets it at CNY 20,000 per person per crossing, raised from the earlier CNY 6,000, in force since 1 January 2005.2
  2. Do before arrivalDeclare foreign banknotes above the equivalent of USD 5,000 in writing to customs on entry, under the interim measures issued by SAFE and the General Administration of Customs. There is no ceiling on bringing foreign cash in — the obligation is the declaration — but what you can take out later is tied to that entry record.3
  3. Do before arrivalDo not expect this site to tell you how many yuan to bring. No Chinese official body or service provider publishes a recommended amount for foreign tourists, and any figure you see elsewhere is someone’s editorial judgement rather than a sourced number.4
  4. Can do in ChinaChange a small amount on arrival. The official guide points to exchange service providers and self-service exchange machines at ports of entry, and, in the city, to bank branches, some hotels and exchange points usually marked “exchange”; leftover RMB can be changed back in the city or at the departure port.5
  5. Can do in ChinaTake the passport to the counter. Romania’s foreign ministry states that presenting the passport bearing the visa or the Chinese entry stamp, as applicable, is compulsory when exchanging money at a banking institution.6
  6. Can do in ChinaKeep the exchange receipt. Under SAFE’s implementing rules, a non-resident individual has an annual facilitation quota of the equivalent of USD 50,000 on presentation of a valid identity document, and unused RMB is converted back on presentation of the identity document and the original exchange receipt, which stays valid for reconversion for 24 months. Small amounts — up to the equivalent of USD 500 a day, or USD 1,000 at pre-departure facilities beyond customs — need only the identity document.7
  7. Can do in ChinaLook at the CNY 100 notes you are handed. Romania’s foreign ministry warns that counterfeit notes, especially the CNY 100 denomination, are frequent, including notes withdrawn from ATMs, and advises checking them before accepting them from third parties.8
  8. Can do in ChinaTreat cash as the floor under everything else. If both wallets and the card fail at once, the legal position is that RMB cash may not be refused — and the announcement names taxis, buses and railways explicitly, which covers the moments when being unable to pay is worst.1

What can go wrong

A driver or a shop tells you they take phone payments only and waves your banknotes away.

What to do instead Refusing RMB cash is prohibited by PBC Announcement [2020] No.18, which names railways, buses and taxis, and enforcement sits with PBOC branches and local authorities. In practice the sticking point is usually change rather than principle, so carry CNY 10, 20 and 50 notes; if a refusal is flat, another shop is quicker than an argument.1

You brought Romanian lei in cash and no counter will take them.

What to do instead The lei is not among the currencies commonly quoted in China, so it may simply not be exchangeable. Bring a widely quoted currency such as euros, or skip cash imports and withdraw RMB from an ATM after arrival; at the airport change only enough to reach the city.5

You threw away the exchange slip and now want to change several hundred euros’ worth of leftover yuan back.

What to do instead Reconversion above the small-amount thresholds needs the identity document and the original exchange receipt, valid for 24 months. Below the equivalent of USD 500 a day, or USD 1,000 at pre-departure facilities beyond customs, the identity document alone is enough. Keep every receipt with the passport.7

You carried more than the equivalent of USD 5,000 in euro notes and said nothing at customs.

What to do instead Above that threshold a written declaration on entry is required, and the amount of foreign cash you may take out is tied to the entry record. Declare it at the border and keep the declaration form for departure.3

A CNY 100 note you are holding is refused later in the trip.

What to do instead Counterfeits of that denomination are reported as frequent, including notes taken from ATMs, and a note cannot be traced back once it is in your wallet. Check notes as you receive them, and prefer mobile payment for larger amounts.8

Last verified and sources

Each record below is shown as provenance: who published it, what kind of document it is, how far it reaches and when we last checked it. The source’s own wording is not reproduced here — most of these documents are published in Chinese, and a translation of ours would be a paraphrase standing where a citation should be. Follow the link to read any of them in the original.

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