China is very much a cash culture. Some shops, restaurants and bars take credit cards, but many do not. Chinese currency doesn’t come in denominations larger than 100 (about USD$14, probably because of fear of counterfeiting). Furthermore, many small retailers and taxis complain when you try to pay for a small item with a 100RMB note, so you have to constantly aim to keep a variety of denominations at your disposal. All denominations 1RMB and over feature a portrait of Mao, naturally. The nearly worthless Jiao (10 Jiao = 1RMB), colloquially called a “Mao,” does not feature Mao (obviously).
I’ve been told that a trip to a bank is a harrowing experience, so I have so far only gotten cash from ATMs. ATMs frequently run out of money on the weekends. Often times when I arrive at work, I see people in military fatigues with machine guns and spiked clubs (really) re-filling the ATMs in the lobby. Most uniformed officers are not very intimidating, but the dude with the spiked club is pretty scary.
Hong Kong Dollars are minted by private banks such as HSBC, and are significantly more colorful than RMB. Both currencies are sized based on the denomination, which makes a lot of sense to me.
I’ve been told that a trip to a bank is a harrowing experience, so I have so far only gotten cash from ATMs. ATMs frequently run out of money on the weekends. Often times when I arrive at work, I see people in military fatigues with machine guns and spiked clubs (really) re-filling the ATMs in the lobby. Most uniformed officers are not very intimidating, but the dude with the spiked club is pretty scary.
Hong Kong Dollars are minted by private banks such as HSBC, and are significantly more colorful than RMB. Both currencies are sized based on the denomination, which makes a lot of sense to me.
Don't forget Macau money which is different from both HKD and RMB!
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