Hangzhou is the center of politics, economy, culture, science and education of Zhejiang. It is located in the most developed area of China and the traffic here is really convenient.
As one of the seven ancient capitals, Hangzhou is a historical and cultural city famous for tourism. In the 13th century, Italian traveler Marco Polo praised the city as "the richest and most splendid city in the world”. Hangzhou is famous for the beautiful West Lake. It is said that "there is Paradise above, Suzhou and Hangzhou are below", that is the best praise given to this city. The West Lake was inscribed on the World Heritage List in 2011.Living in Hangzhou
The e-commerce industry is flourishing in Hangzhou and Alibaba, a world-renowned e-commerce company, is located here.
1. Banking Services
(1). ATM / Bank Card
ATMs are readily accessible in China. Some banks cooperate with foreign banks but usually only saving account of check can be opened. So please leave some checks to your parents in case they need to remit to you. At the same time, please keep some cash with you in case of unforeseeable needs.
(2). Credit Card
There are five international credit cards: Master card, Visa card, Diners card, American express card and JCB. And all above cards can be used in most hotels, restaurants, large department stores and some small companies in China. However, more shops only accept cash.
(3). Local Bank Accounts
You may open a foreign currency/RMB account with local banks. You may choose Bank of Communications, Industrial and Commercial Bank of China and Bank of China (traveler’s cheque is available). You may withdraw money with your passport or bank card applied in Hangzhou. You may withdraw money from your bank card when travelling. And be sure to carry enough cash in case of emergency. We accept tuition or other fees remitted from ICBC.
(4). Foreign Currency Exchange
Offering official interest rates and charging reasonable handling fees, banks are the best place to exchange foreign currencies. Some big hotels and international airports also offer such services. You must carry your passport to exchange foreign currencies. Since if you exchange with bank cards from ATMs, you may not be able to find real-time and accurate exchange rates, or you don't know how much the service fees are (some charge high and some low). So check your receipt carefully to avoid being charged more. It is recommended to check the exchange rate carefully before leaving your country.
Keep your receipts when converting to renminbi. Since the government stipulates that if you convert foreign currencies into renminbi last time, you are allowed to convert only 50% of the converted renminbi into foreign currencies this time, so the last receipt shall be provided. You can exchange small amount of renminbi to dollars at most branches of banks.