Many Chinese universities only accept tuition payment in cash in RMB. Students should exchange money before the registration date. (At present, the exchange rate between RMB and US Dollar is roughly USD 1 = RMB 6.58). You are required to present your passport to change money/travelers checks etc.
All universities accpet cash in RMB. It is possible to exchange cash at most banks in China.
Some universities accpet travelers' cheques as a tuition payment method. If you want to pay tuition by traveler's cheque, please check with the school in advance. Don't worry if you take traveler's cheques, Bank of China can cash traveler's cheques sold by international commercial banks and traveler's cheque companies.
Some universities accept payment by credit card, but a 3%-4% service fee will be charged when using these cards. Cash withdrawals from ATMs are available on most common credit/debit cards e.g. American Express/Visa/MasterCard/Cirrus, but this facility is not available from all ATMs in China and a service fee will usual apply. Check with your credit/debit card provider for specifics before leaving your home country.
Western Union money transfer allows instant money wiring to and from 100 countries. Receivers can withdraw either RMB or USD.