Understand Chinese Money
    Chinese Renminbi is made up of both paper money and coins, which is formally called Yuan , more often known as Kuai (used in spoken Chinese). It breaks down into units of ten Mao or Jiao , and one hundred Fen . The bills available are: RMB 100, RMB 50, RMB 20, RMB 10, RMB 5, RMB 2 and RMB 1. Coins are usually use for small change you find coins of 1 kuai, 1 Jiao, 2 Jiao and 5 Jiao. Rarely used anymore, but still there are the Fen coins.
Be aware that at present China is suffering from a rash of counterfeiting . Fake notes are usually produced with color photocopiers and are easy to tell as the paper feels different. A few years ago you were only likely to see fake RMB 100 notes, but these days there are even fake RMB 5 notes in circulation.


Banking in Shanghai
    The monetary unit in China is the RMB (or yuan). Rates fluctuate a bit, but are generally pretty stable (8.2 to 8.3 RMB per US $1). This may change as China moves to make to RMB fully convertible in next few years. ATM machines are available all over, and many will work with your bank account from home. Visa and Mastercard are widely accepted at places frequented by foreigners, though most transactions in smaller stores are cash only. There are no checking accounts.

    Expats can open a bank account at most of the Shanghai banks although the transfer of currencies is usually limited to certain amounts. China does have strict laws on currency import and export and if you are going to move sums of cash in or out China in excess of $5,000, at the airport you'll be required to show documentation and receipts for the currency exchanges and/or requirement to carry that amount.
Major Banks in Shanghai[/b]

ABN AMRO Bank
http://www.abnamro.com/
28/F Jinmao Tower , 88 Shiji Da Dao
荷兰银行
世纪大道 88 号金茂大厦28楼
Tel : 5049-9303

Bank of China
http://www.bank-of-china.com/
200 Yincheng Zhong Lu
中国银行
银城中路 200 号
Tel : 3882-4588
Hotline : 95566

Industrial and Commercial Bank of China (ICBC)
http://www.icbc.com.cn/
1 Pudong Da Dao
中国工商银行
浦东大道 1号
Tel : 5888-5888
Hotline : 95588

Agricultural Bank of China
http://www.95599.sh.cn/
26 Zhongshan Dong Yi Lu
中国农业银行
中山东一路26号
Tel : 6329-1836
Hotline : 95599  

China Construction Bank Shanghai Branch
http://www.ccb.cn/portal/
599 Xujiahui Lu
中国建设银行上海分行
徐家汇路 599 号
Tel : 5396-1888
Hotline : 95533

The Hongkong & Shanghai Banking Corporation, Shanghai Branch

http://www.hsbc.com/

G/F, HSBC Building , 101 Yincheng Dong Lu
香港汇丰银行
银城东路 101 号汇丰大厦底
Tel: 6841-1888

Citibank


http://www.citibank.com.cn/
20/F Marine Tower , 1 Pudong Da Dao
花旗银行
浦东大道 1 号船舶大厦20楼
Tel : 5879-1200, 800-830-1880

Standard Chartered
http://www.standardchartered.com.cn/
26/F China Merchants Tower , 161 Lujiazui Dong Lu
渣打银行
陆家嘴东路161 号招商大厦26楼
Tel : 5887-1230, 3222-4600