Can I bank in China?

It is very easy to open a bank account in China and the account can be a source of convenience. The RMB amount of your salary is deposited directly into the Bank of China in Luxu. You can get a Master Card or Visa through the Bank of China. This can be used throughout most of China.  This credit card acts more like a debit card.  Foreign banks such as HSBC cannot issue any credit cards of their own or debit cards in China.  Withdrawal of money can only be made from foreign banks during banking hours which is typically Monday-Friday 10:00 AM to 5 p.m.  Your Chinese Bank card can be used at ATMS 24/7.  Incidentally, you can use your North American debit card at most ATMs in China.

If you change money in China from US or CDN dollars to RMB keep the Bank slips - that way if you need to change RMB to dollars when you leave you can do so with those slips at the airport or any bank.  There are money exchanges at most hotels and of course at banks.  Be careful of changing money on the street (unofficial-black-market); the bills you get may be counterfeit.

You now can use your Chinese ATM card in the CIBC ATMs back in Canada making it unnecessary to change money at the Bank of China before you go back to Canada.  The ATMs in Thailand also accept your Chinese ATM cards.