Shanghai has achieved full coverage of foreign currency exchange services across all 16 districts, with points available in airports, star-rated hotels, commercial districts, and tourist hubs. By the end of June, services will extend to all high-star-rated hotels, announced the Shanghai head office of the People's Bank of China (PBOC).
Extensive Exchange Network
As of June 11, Shanghai's network includes 20 franchised institutions, 200 agencies, 80 self-service machines, over 3,000 bank branches, and nearly 9,000 ATMs that support foreign bank card withdrawals. Pudong International Airport alone has 12 franchised points, four ATMs, three bank branches, and one self-service machine, facilitating convenient foreign currency exchange for travelers.
Wide Range of Currencies
Franchised institutions in Shanghai accept up to 50 currencies, covering countries along the Belt and Road initiative, and offer services for around 30 additional currencies such as the UAE dirham, Danish kroner, Brazilian real, and Polish zloty. Digital RMB services have also been introduced for foreign currency exchange.
Growth in Transactions
The volume of foreign currency exchange transactions in Shanghai has seen significant growth, with a year-on-year increase of four times from January to May. Both the number of transactions and overseas visitors have quadrupled.
Service Enhancements
Shanghai has standardized foreign currency exchange institutions, expanded the types of exchangeable currencies, optimized service processes, and ensured bilingual service staff at all exchange points. These improvements aim to enhance convenience for international visitors, reflecting Shanghai's commitment to providing high-quality financial services.