Five state-owned banks. Renminbi can be exchanged for foreign currency in five state-owned banks such as Bank of China and Bank of Communications, or joint-stock banks such as China Merchants Bank and China Everbright Bank, or foreign banks such as HSBC and Citibank. The five state-owned banks are professional foreign exchange banks in China. Customers only need to hold their valid identity documents, fill in relevant documents and pay cash. Renminbi is the legal tender of People's Republic of China (PRC), which is mainly managed by the People's Bank of China, and the People's Bank of China is responsible for the design, printing and distribution of Renminbi.