In order to change money you'll need your passport and, often, a sense of patience, as each one of your crisp greenbacks or checks is meticulously inspected. Dollars are by far the most readily accepted exchange currency, followed by Euros and then Pounds Sterling. When China first opened its doors to tourism in the 1980s, foreigners had to use FECs (Foreign Exchange Certificates), which led to the development of blackmarket money changing. Now that tourists use yuan like everybody else, blackmarket money changers are rare – if you are approached with rates that sound too good to be true, steer clear as there will probably be a few fake bills among your wad. Note that you can't change Chinese yuan into other currencies outside of China so budget accordingly and spend all of your cash!
Unlike Mainland China, Hong Kong is overflowing with exchange booths and it's quick and easy to change money. Some of the best rates are generally found on the ground floor of Chungking Mansions on Nathan Road in Kowloon.
Travelers' Checks
Traveler's checks are a safer option many people choose, although you'll pay a small surcharge for each check cashed. Ideally they should be purchased from one of the better-known issuers such as American Express, as lesser known versions may not be accepted in smaller towns. Be sure to note down the serial numbers and keep them and the purchase agreement separate from your checks. Also don't countersign them until you're sure the bank teller is watching.
ATMs & Credit Cards
China has an expanding number of ATMs, which will usually accept Amex, VISA, MasterCard, Maestro and Cirrus, though you'll pay a small flat fee for each withdrawal and, outside of large cities, ATMs may be hard to come by. Also, while plastic seems a safe and easy way to carry your cash, bear in mind that ATMs can be temperamental (or empty), so they should be used as a back-up rather than your principal source of funds. In Hong Kong, ATMs are found on seemingly every corner, although the same precautions apply. For larger purchases, credit cards are often a good way to go. China is increasingly geared up to finding ways for visitors to part with their money and many larger shops, chains or "factory” outlets will accept credit cards, albeit with a surcharge of around 3%.
Money Transfer
If you're really stuck for cash, Western Union (www.westernunion.com) has offices around the country, often found in post offices. The sender has to pay a surcharge and you need to take along your passport to receive funds. Western Union outlets are listed where available.
Costs
While not as cheap as some parts of Asia, China still makes for an inexpensive destination in terms of day-to-day living costs. The four main costs of traveling (apart from the price of airfare to and from your home country) are accommodation, eating, transport, and attraction entry fees. At the most basic, it's possible to live and travel on less than US$20 a day. However, this involves hunting out the cheapest lodgings, eating mainly street food, traveling by local bus or hard seat train (see Getting Around By Rail) and passing up shopping and more expensive tourist sites. A more realistic figure for most travelers would be in the region of US$50-150 a day, which incorporates mid-range hotels, eating in good restaurants, the occasional flight and entry to all the tourist sites you'd want to visit, along with a bit of shopping. If you want a more luxurious five-star tour, plan on a minimum of US$200 a day.
Tipping
Tipping is not an established practice in China and is only expected in places accustomed to dealing with tourists. Thus tourist guides or drivers are to be tipped, as are bellboys and waiters in better hotels. If you are on a group trip, tips are often arranged by the tour leader. Beyond this, any attempts to tip are generally politely refused, no matter how deserving you may feel a person is.
Keeping in Touch
China Post is the national mail carrier and its green and yellow (or green and white) signed branches are found in every town. Here you can send and receivemail and parcels, buy telephone cards and sometimes make international calls. To receive mail, have it addressed to yourself at Post Restante, China Post, City, Province, China – you'll need your passport as ID to collect it. Standard mail to North America or Europe usually takes at least a week, although EMS (express mail service) is quicker and registers your mail. To send a postcard overseas costs $3.2, a letter costs $4.4, and parcels are around $85/US$10 per kilo (2.2lb) for surface mail or $160/US$20 per kilo for airmail. If you want to send a parcel home, you need to leave it unsealed so the items can be checked – there are packing services at post offices. China Post offices are generally open from 8 am to 6 pm, although in smaller settlements opening hours may be shorter, while larger cities sometimes have 24-hour brancheswhere you might also find Western Union money transfer offices (see Money Transfer). The staff will generally be able to decipher the destination, but to be sure you could get the country written in Chinese by your hotel (for a list of countries, see Language, at the end of this guide). If you can't get to a China Post, there are also a few green and yellow mail boxes dotted around some of the bigger cities. In upscale hotels you can buy stamps in the business center and they may send your mail for you too.
Telephones
China Telecom is the nation's telecommunications provider and their blue and white signs are found in all towns, very often next to China Post. Here you can make international calls by a variety of means as well as send faxes, and in some larger cities, check your e-mail. China Telecom business hours are usually from 9 am to 8 pm although larger cities may have 24-hour offices. There are private booths, where you are charged by the minute (around $3 per minute to Europe or North America) , IC phonecards, which slot into public telephones (similar cost), and, cheapest of all, Internet phone (IP) cards where you have to dial an access number, tap in your pin and number and are then connected internationally. You can also buy SIM cards for your cell phone here, but be sure your phone is tri-band and the SIM you purchase enables international calls if you want to make or receive them. If you buy a SIM, you'll then have to purchase "pay as you go” top-up cards as you need them (keeping the old one to show staff when buying a new one makes getting the correct card easier) and note that you generally pay to receive calls. There are also public telephones and private telephone offices found everywhere. If you're staying in a mid-range or above hotel, you'll probably have IDD (International Direct Dialing) from your room, although you'll have to give a deposit of some sort to open the line. Also be aware that the hotel may charge for a call even if you didn't actually get through, and they map slap on a hefty surcharge.