Chinese Foreign Exchange Certificate 1 Yuan Bill - Front - 1979 | Chinese Foreign Exchange Certificate 1 Yuan Bill - Back - 1979 |
Money Issued by the People's Republic of China
The Chinese Government used Foreign Exchange Certificates (FEC) for foreigners
to use in China. Foreigners had to purchase items with FEC money. In theory,
they were equivalent to Renmimbi (People's Money). However you could get more
Renmimbi for FECs. FECs could also be exchanged back to hard currency providing
you had the receipt that you bought them with to show the bank. They have now
been phased out of use. Everyone now uses Renmimbi. Because we worked in China
and they paid us in Renmimbi
they allowed us to spend Renmimbi. We had a certificate to allow this. One time
in a hotel they refused to allow me to use Renmimbi. I told them to call the
police and then they relented and let me use the Renmimbi.
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