Major airlines, hotels and travel agencies take international credit cards, such as Master Card, Visa, American Express, Diner's Club and JCB. So do most up-scale restaurants, bars and department stores (like the Friendship Store).
But you are still recommended to bring a certain amount of cash since credit card is not as broadly popular in China as in most American and European countries.
Traveler's cheques issued by major overseas banks may be exchanged at Bank of China and CITIC Bank branches as well as other authorized currency exchange counters.