send money to china canada currency cny cash coins

Send Money to China

March 7, 2019 , by Continental Currency
Continental Currency

China Is the Most Popular Country Canadians Send Remittances To

Canadians send remittances all over the world, with one country in particular that stands out: China. Canadians sent almost $4 billion to China in 2016, making it the most popular country in the world for Canadians to send remittances to. On the flip side, China sent about $20 million dollars in remittances to Canada in 2016, according to data assembled by the Canadian International Development Platform. This data isn’t surprising considering there are 1,577,060 Chinese people living in Canada, according to StatsCanada’s 2016 census, who could be sending or receiving money from back home.

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Renminbi and China Information

The renminbi is the official currency of the People’s Republic of China – and one of the most used currencies in the world. The China Renminbi Symbol is ¥ and the currency code is CNY.

Chinese Yuan Renminbi to Canadian Dollar

For the past few years, the yuan has been pegged between 4 and 5.5 per Canadian dollar. The CNY is largely devalued in order to make China more competitive in the global market. China has one of the world’s largest economies which plays a huge role in the global economy as a whole.

CAD to CNY rate watch

Check out our CNY Currency Spotlight for more information

Where You Should Spend Your CNY

china travel forest building rice fields

In addition to the Chinese mainland, the yuan is also widely accepted in Hong Kong and Macau. However, smaller notes may not be accepted, and change will often be given back in Hong Kong dollars or Macanese patacas.

There are so many things to do and see in China; from beautiful Buddhist temples and the Great Wall, to theme parks and national parks, to breathtaking gardens, mountains, rivers, and natural sights; there’s no shortage of beauty and excitement in China.

China’s capital Beijing is home to seven UNESCO World Heritage Sites. Shanghai, the largest city in the world, is the best destination for city-lovers. Hong Kong is home to some of the best food in the world, plus excellent shopping, beaches, and culture. Cruise down the Li River from Guilin to Yangshuo for one of the most beautiful experiences in the world. Experience religion and culture in Tibet and take in the Yellow Mountains in Huangshan.  

From cities to nature, culture, and food, China has so much to offer!

Check out our China Travel Guide for more information!

*Caution: There is currently a travel warning in effect for Canadians visiting China

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