The Chinese legal tender is renminbi (RMB), meaning "People's Money." The basic unit of RMB is YUAN. Jiao (10 Jiao equals one Yuan) and Fen (10 Fen equals one Jiao) are of nominal value and best treated like U.S. pennies. Currently, one U.S. Dollar equals approximately $7.1Yuan (based on national exchange rate posted on Jan. 15, 2008). Currency can be changed at all airports, most hotels, banks and friendship stores. However, you must show your passport during each transaction. Retain all currency conversion receipts if you wish to convert Yuan back into USD or another foreign currency when leaving China. It is also not advisable to have a large amount of cash in hand at all times. For larger purchases, use your credit cards. Please contact your banks and credit card companies for any international usage charges. Most hotels, friendship stores and other commercial stores accept major credit cards (Visa, Master Card and American Express).