RMB & Currency Exchange

Renminbi (RMB) is the sole legal tender of China. The basic unit of the RMB is Yuan and is subdivided into Jiao and Fen (1 Yuan = 10 Jiao = 100 Fen).

RMB is issued in both note and coin forms. Banknotes come in the denominations of 100 Yuan, 50 Yuan, 20 Yuan, 10 Yuan, 5 Yuan, 2 Yuan, 1 Yuan, 5 Jiao, 2 Jiao and 1 Jiao; and the denominations for coins are 1 Yuan, 5 Jiao, 1 Jiao, 5 Fen, 2 Fen and 1 Fen. The latter three are almost never encountered nowadays.

• Currency Exchange:

For your own safety, do not exchange money on the streets for this is an illegal act and you risk getting conned. Students may convert the following foreign currencies - Pound Sterling, Hong Kong Dollar, American Dollar, Euro, Japanese Yen, Canadian Dollar and Australian Dollar into RMB at certain banks in Chongqing.

The banks that are located nearby Chongqing University are:

Bank of China

Opposite the Main gate of Chongqing University (Campus A)

Service Phone Number: 95566

Website: http://www.boc.cn/

China Construction Bank (中国建设银行)

Opposite the Main gate of Chongqing University (Campus B)

Service Phone Number: 95533

Website: http://www.ccb.com.cn/

The banks that can be found on the CQU campus are:

Industrial and Commercial Bank of China (中国工商银行)

Opposite the Main gate of Chongqing University (Campus A)

Service Phone Number: 95588

Website: http://www.icbc.com.cn/

Agricultural Bank of China (中国农业银行)

Opposite the Main gate of Chongqing University (Campus A)

Service Phone Number: 95599

Website: http://www.abchina.com/

Students may exchange money and open saving/checking accounts at all of the above banks (Bank of China is recommended). You are required to present your passport to the bank staff when opening a bank account/exchanging foreign currency. Do inquire from the bank personnel for further details.