The first thing you should do before travelling to China is alert your bank about the duration of your stay in China, and insure that your ATM card will work while you are abroad. Once in China, you will find that ATMs can be found everywhere in China. Credit cards are typically only accepted in large metropolitan areas like Beijing, Shanghai, or Hong Kong. But even in these big cities (especially in mainland China) cash is the main medium of exchange.

1. Any tips on the banking and money matters in China?
source: http://trip-per.com/blog/index.php/any-tips-on-the-banking-and-money-matters-in-china/
The first thing you should do before travelling to China is alert your bank about the duration of your stay in China, and insure that your ATM card
will work while you are abroad. Once in China, you will find that ATMs can be found everywhere in China. Credit cards are typically only accepted
in large metropolitan areas like Beijing, Shanghai, or Hong Kong. But even in these big cities (especially in mainland China) cash is the main
medium of exchange. Credit cards can only be used in the most upscale hotels, shopping malls, and restaurants. Before traveling to smaller cities
within China it is best to make sure you have enough cash on hand.
For brief stays in China up to a few months, setting up and account with a Chinese bank is not necessary. You should just deposit the amount of
money you will need for the duration of your stay before leaving for China, and use your ATM card to withdraw funds as needed. ATMs of major
banks such as China Construction Bank, Bank of China, or Industrial and Commercial Bank of China will accept Visa and MasterCard, as well as
some other foreign cards. You should check with your bank before leaving to be sure that your card will be accepted in China. For individuals who
frequently travel back and forth between their home country and China, setting up an account with an international bank like HSBC, which has
ATMs in all of China’s major cities, is a good idea.
During longer stays in China, such as for employment, it is more convenient if not necessary to open a debit account with a Chinese bank. Having a
Chinese bank account saves you from having to pay the expensive international transaction fees which can build up over time. Setting up a bank
account in China is a fairly simple process, and tellers at major banks such as Bank of China will generally at least have working English capacity.
You should also make sure that your bank account contains sufficient funds to remain active while you are in China.
Withdrawing cash from ATMs is also a better alternative to exchanging cash at airports or banks as the exchange service fees are lowest. But if you
do exchange cash in China, you should remember to keep your receipts (cash exchange receipts) so that you can reconvert any extra cash before
you leave. Also note that you will need your passport for exchanges. If you are ever approached by individuals seeking to exchange currency with
you, you should avoid them as there is a black market in China for exchanging foreign currencies.
Just keep a close eye on Tripper for more China travel solutions!