Shanghai has expanded its foreign currency exchange services to all 16 districts, ensuring convenient and accessible options for international visitors. This move reflects the city’s commitment to catering to diverse needs, particularly as Shanghai serves as a key entry point for foreigners arriving in China for business, study, or tourism.
The city has established a robust network of exchange services by the end of June. This network includes 20 franchised institutions, 200 agencies, 80 self-service machines, and over 3,000 bank branches. Additionally, nearly 9,000 ATMs support foreign bank card withdrawals.
At Pudong International Airport, the primary arrival and departure point for many visitors, there are 12 franchised points, four ATMs for foreign currency withdrawals, three bank branches for currency exchange, and one self-service machine. These services are strategically located at arrival and departure gates, as well as in public areas of both terminals.
To cater to diverse needs, franchised institutions in Shanghai accept up to 50 currencies, encompassing countries along the Belt and Road initiative and approximately 30 other currencies like the United Arab Emirates’ dirham, Danish kroner, Brazilian real, and Polish zloty.
Digital RMB services have been integrated into franchise institutions, complementing traditional currency exchange options. This digital currency adoption further enhances Shanghai’s offerings and aligns with China’s broader digital finance initiatives.
The volume of foreign currency transactions in Shanghai has witnessed significant growth this year, with a quadrupling in transactions and visitors from January to May compared to the previous year. This surge underlines the rising demand for foreign currency exchange services in the city.
To further elevate service standards, Shanghai has standardized foreign currency exchange practices, expanded the range of exchangeable currencies, streamlined service procedures, and ensured bilingual staff at all exchange points. These measures aim to provide a seamless and efficient experience for international visitors.
