8 Best Ways to Exchange USD to CNY in China - 2017
Published in 2017 Apr. by real-time-cny.com
1. Go to Banks in Downtown.
Advantage: Best Conversion Rate, Especially in USD, EUR & HKD. No handle fee. Easy to be found in cities.
Disadvantage: Need paperwork and waiting time. Passport is needed for foreigner.
Service Time: 9:00 - 17:00 in business days.
Such as Bank of China, ABC, ICBC, CCB. etc.
Tip: BOC and ICBC usually have more different foreign currencies to exchange and to be more professional.
Foreign Currency to RMB and RMB to Foreign Currency are both available.
2. Get RMB Cash on ATM with Credit/Debit Card
Advantage: Most convenient as ATM everywhere, No paperwork.
Disadvantage: Average rate, and need currency conversion fee and handle fee. It has a limit, 2500 RMB each time, but you can withdraw several times in same ATM.
Service Time: 24 hours, Mon-Sun
Such as UnionPay debit card, Visa, MasterCard, AmEx credit card.
Only get RMB, Foreign currencies are unavailable.
3. Change traveler's cheque to RMB in China banks
Advantage: Low conversion fee(0.75%), Good exchange rate of bank
Disadvantage: Only in several banks with limited branches
Service Time: Mon - Fri
Tip: Bank of China accept: AmEx, Travelex, MasterCard, Visa's cheques. Inquiry which branch can process cheque, Just dial BOC hotline: 95566(with English service)
Official link of BOC traveler's cheque

Foreign Currency to RMB is available.
4. Small Store near Foreigners' Community
Advantage: No paperwork, fair rate,
Disadvantage: Need to inspect notes, It may has fake money to strangers. Private exchanging is illegal in China. But that is not a problem. People are used to it.
Service Time: Open everyday.
Tip: Just asked those experienced friends whom live in China, they know those stores.
Foreign Currency to RMB, RMB to Foreign Currency are both available.
5. Currency Exchange Store in Airports
Advantage: Very convenient in most international airport, save your time when you are ready to board.
Disadvantage: Absolutely bad rate, and need handle fee(60-80 RMB). Need paperwork, approx 10 mins if no waiting. Passport is needed for foreigner.
Service Time: 24 hours, Mon-Sun
Such as: Travelex, ICE, United Money
Foreign Currency to RMB, RMB to Foreign Currency are both available.
6. Foreign Currency Exchanging Machine - XDM(which is similar to ATM)
Advantage: Convenient in a few airports and 5 stars luxury hotels.
Disadvantage: It can't be found in most of cities and airports. Passport is needed. Bad rate and only foreign currencies to RMB is available. No RMB to foreign currencies.
Service Time: 24 hours, Mon-Sun
Only Foreign Currency to RMB are available.
7. Individual Money Changers in In Some International Wholesale Markets
Advantage: Maybe good rate , Exchange large amount, No paperwork.
Disadvantage: Need to inspect notes, It may has fake money to strangers. Private exchanging is illegal in China.
Service Time: Daytime, Mon-Fri
Tip: Only in Beijing, Guangzhou, Shanghai, Shenzhen, YIwu.
Foreign Currency to RMB and RMB to Foreign Currency are both available.
8. Go to English Forums about China City Life Which is bulit by Foreigner.
Advantage: Maybe good rate. No paperwork.
Disadvantage: Maybe no response in long time, Private exchanging is illegal in China.
Such as: gochengdoo forums, thebeijinger, reddit/r/shanghai, You can post exchange request to get help.
Banks with RMB Services Abroad
List of Chinese Banks in London, UK
List of Chinese Banks in the USA
List of Foreign Banks in China
Talk about RMB Exchange Experience Here