China Business Tips

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Counterfeit Money

Modern China's economy is definitely cash-based. The currency of the People's Republic of China is the Yuan, also called the Ren Min Bi (RMB). This literally means, "The People's Money."

Unfortunately, many of The People have begun printing their own money, causing frustration, suspicion and headaches all around. As a smart traveler, it is your responsibility to keep your eyes open. Here are a few simple techniques to stop cheaters from getting you.

First, hold the bill up to the light and check for a clear, crisp watermark on the left hand side. On the 50- and 100- Yuan bills, this is a portrait of Chairman Mao's face. Be suspicious of smudged or unclear watermarks.

Next, check for a dark, 1/8" strip running vertically through the bill to the right of the watermark. The strip should not be blurred or broken.

Every denomination has a portrait of Chairman Mao. Gently rub his collar. It should be a bit rough. If it feels slick or glossy, beware.

Finally, hold the bill out stiff with one hand and flick the edge with the fingers of your other hand. You should hear a sharp, crisp sound.

If someone gives you a suspicious bill, you can tactfully ask for a different one by saying "Huan Yi Ge." Banks and ATMs generally deal only in real money.

It's funny that the people who invented paper money, and are now famous for producing cheap imitation goods and fakes, would combine these interests to create one of the world's most serious cases of counterfeiting. So you have to be sharp. Don't be afraid to test every bill (or at least the large denominations). If you get scammed, you can only blame yourself.

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