Currency
Chinese currency is officially known as renminbi ("the people's currency"). There are roughly 14 of them to the pound. They are known as yuan, which are made up of 10 jiao (which roughly translates as shilling), which are in turn made up of 10 fen (roughly translates as pence). Confusingly, these are only their written names, in everyday speech: yuan are known as kuai (quid) and jiao as mao (bob). Fen are no longer used in the big cities.

Sterling, dollars and travellers cheques can be changed at foreign exchange desks in hotels (if you are a resident at the hotel), certain banks, international airports and in some department stores. Credit cards are accepted in hotels and in many department stores, but it is always a good idea to have cash on you because China remains essentially a cash society.

Note: Some travellers have been having problems changing £50 notes into renminbi, so you are advised only to take £20 and £10 notes by way of cash.

Renminbi, until recently, had to be changed back to the original currency only in China or in Hong Kong, and you have to have the original exchange certificates which are issued when you change money. Now it is much easier to change money before you leave.

ATMs that will accept a foreigner's bank card are also increasingly common, especially in the southern cities and Shanghai. Most people who go there on business tend not to open a Chinese bank account, and instead used their foreign one, taking money out with their card as necessary.

Warning: Counterfeit bills are increasingly common. Recently there has been a problem with counterfeit Yn50 and Yn100 bills, so be aware of an unscrupulous dealer trying to palm them off to you. These fake bills feel different, and the colours are slightly different also. Some travellers changing money on the black market (so we are told) have been given Taiwanese currency, so the moral of the tale is - don't ever use the black market!

There's no real need to tip, and it's not a custom practised by the Chinese. In 5-star hotels, you tip and act as you would anywhere else in the world.

Cost of Living
A 4-star hotel will set you back about £20 for the night in summer, possibly more with the Olympic Games coming. A decent 3-star will be about £150, but you can get rooms for £20, or even less in the off-season. Tourist attractions are normally expensive, about what you'd pay at home, certainly several pounds. Taxis are about £2-4 for a city hop.

A meal can cost about £1 in a noodle bar, up to prices similar to at a Western restaurant. An average Chinese restaurant will set you back about £2/3 per person, without alcohol. Beer can be bought in large bottles from corner shops for 50p (ask for pijiu - pronounced pee-joe), but in a club or bar, expect to pay £3.