Currency

The currency of the People’s Republic of China is Renminbi (RMB). The basic unit of RMB isyuan, and the fractional currency isjiao(ormao)andfen. Jiaois 0.1 ofyuan, andfenis 0.01 ofyuan. The face values of the banknotes are 100yuan, 50yuan,20yuan, 10yuan, 5yuan1yuan, 5jiao, 1jiao. The face values of coins are 1yuan, 5jiao, 1jiao.

Money Exchange

The following currencies can be easily exchanged into RMB: pound sterling, HongKong dollar, U.S. dollar, Euro, Japanese yen, Canadian dollar, Australian dollar, etc.

Branch of Agricultural Bank of China and China Construction Bank can handle currency exchange between RMB and U.S. Dollars.You can take No.310 bus and get off at Fu Yuan Xin Cun.

If you would like to exchange other foreign currency, you should go to Bank of China. There is a branch, Bank of China near the old campus. You can take the university bus to old campus.

To exchange currency or open a bank account, it is required to present your passport. Consult the bank clerks if you have any questions.

Never exchange money on the street for fear of getting cheated.

Banking

At the bank, you can directly deposit the following 7 foreign currencies: pound sterling, Hong Kong dollar, US dollar, Euro, Japanese yen, Canadian dollar, and Australian dollar.

Bank of China:

Service Phone Number: 95566

Website:http://www.bank-of-china.com/

Students can take the buses and MetrotoLiu-xia-jie Street, where students can exchange the money.

Address of Branch, Agricultural Bank of China: No. 165, Liu-xia-jie Street

Address of Branch, China Construction Bank: No. 135, Liu-xia-jie Street.

Address of Branch, Bankof Hangzhou: No. 125, Liu-xia-jie Street.

Address of Branch,Postal Savings Bank of China:No. 125, Liu-xia-jie Street.

Address of Branch,Hangzhou United Bank:No. 125, Liu-xia-jie Street.

Address of Branch,Bank of China: No. 41, Pingjishan Street.