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Bank and Currency

In Jiangsu, there are many bank branches in every city. There are the Big Four state-owned commercial banks, including ICBC (Industrial and Commercial Bank of China), BC (the Bank of China), CCB (the China Construction Bank), and ABC (the Agricultural Bank of China). Many private banks have recently been established as registered financial institutions to provide bank services.

For financial services, it is one of China’s WTO (World Trade Organization) commitments that international financial institution can open its branches in China to provide financial services to international travelers, expatriates, and locals. There are many international banks and financial groups that have set their branches in many major cities, including City Group (US bank), Bank of Montreal (Canadian Bank), and Standard Chartered Bank.

Agricultural Bank of China, Nanjing Office
Address: 28 Changfu Street, Baixia District, Nanjing, Jiangsu, China
Tel: 86-25-8457 8628

Bank of China, Nanjing Branch
Address: 3 East Zhongshan Road, Nanjing, Jiangsu, 210005, China
Tel: 86-25-8441 2412
Fax: 86-25-8450 5774

Bank of Montreal, Nanjing Office
Address: Rm. 3208, Haitong Securities Tower, 689 Guangdong Road, Shanghai 200001, China
Tel: 86-10-8518 8166
Fax: 86-10-8518 8169

Address: 33 Huayuan Shiqiao Road, Luzui Finance and Trade Area, Shanghai, China
Tel: 86-21-2896 6000
Fax: 86-20-3880-1267

Hongkong & Shanghai Banking Corporation Ltd (HSBC), Suzhou Office
Address: Room 1506-1508, Century Financial Tower No.1 Suhua Road, Suzhou Industrial Park, Suzhou, Jiangsu 215021, China
Tel: 86-512-6761 9669
Fax: 86-512-6762 3357

Industrial & Commercial Bank of China (ICBC), Nanjing Office
Address: 408 Zhongshan Road South, Nanjing, Jiangsu 210006, China
Tel: 86-25-95588
Standard Chartered Bank, Nanjing Office
Address: Rm A - B, Level 46, No.49 ZhongShan South Road,
ShangMao Century Plaza, Nanjing, Jiangsu 210005, China
Tel: 86-25-8689 0333
Fax: 86-21-5876 4237

For other banks or branches, see the bank information in category, Mortgagers of Real Estate.

Chinese official currency is called renminbi and its principal unit is yuan. The currency is issued by the People’s Bank of China, CNY or simply RMB in abbreviation.

The Latinised symbol is ¥. One yuan is divided into 10 jiao and one jiao is divided into 10 fen (cent).

Present exchange Rate:
In April, 2007, $1 USD = ¥ 7.73 RMB or ¥1 RMB = $0.12955046 USD. You can exchange currency in most of Chinese banks.

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