The currency in China is known as the renminbi or yuan. It is not a freely convertible currency, but its value has been allowed to rise and fall within a wider range in recent years, with an official exchange rate of 6.78 yuan for $1 on July 21, 2010
Foreign nationals - currently in China - who do not have a residence permit (holders of F, L, C and G visas), those who are studying or doing an internship in China, and dependents of foreigners employed in the country, should take precautions so as to avoid being illegally employed.
