SHANGHAI, June 28,
2024 /PRNewswire/ -- A news report from
english.shanghai.gov.cn:
Shanghai's foreign currency
exchange service points have achieved full coverage in 16
districts, distributing in airports, star-rated hotels, commercial
districts, and tourist hubs. By the end of June, the service will
extend to all high-star-rated hotels in the city, the Shanghai head office of the country's central
bank, the People's Bank of China,
or PBOC, has announced.
As the first stop for many foreigners arriving in China, whether it is for business, studying,
or tourism, Shanghai has been
optimizing its foreign exchange services to enhance convenience in
response to the cash payment habits of some overseas visitors.
As of June 11, the city has an
extensive foreign currency exchange network, comprising 20
franchised institutions, 200 agencies, 80 self-service machines,
and more than 3,000 bank branches, in addition to almost 9,000 ATMs
that allow foreign bank card withdrawals.
Among these, Pudong International Airport has 12 franchised
points, four ATMs for foreign currency withdrawals, three bank
branches for currency exchange, and one self-service machine,
enabling convenient foreign currency exchange at both arrival and
departure gates, and in public areas in both terminals.
In terms of exchangeable currencies, franchised institutions in
Shanghai accept up to 50
currencies, covering most countries along the Belt and Road
initiative.
It also offers exchange services for around 30 other currencies,
such as the United Arab Emirates'
dirham, the Danish kroner, the Brazilian real, and the Polish
zloty, meeting the diverse foreign currency exchange needs of
overseas visitors.
In addition, digital RMB services have also been introduced in
franchise institutions for foreign currency exchange.
According to the Shanghai head
office of PBOC, the volume of foreign currency exchange
transactions in Shanghai has
realized a leapfrog growth this year, with a year-on-year increase
of four times from January to May. The number of transactions and
overseas visitors have also quadrupled.
To further improve the service quality, the city has reinforced
the standardization of foreign currency exchange institutions,
expanded the types of listed exchange currencies, optimized service
processes, and ensured that all foreign currency exchange points
have bilingual service staff.
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SOURCE english.shanghai.gov.cn