When in Rome, do as the Romans do. When you stay in the city, you should have enough yuan -- China's official currency -- to maintain your daily expenses, rent, food, clothes and incidentals. Some people will say US dollars are accepted in some places here. It won't be convenient for you to live your life depending on US dollars. You'll constantly be looking for somewhere to exchange your dollars for yuan. Except some hotels, resorts or places only for foreigners, you cannot use US dollars or other foreign currencies directly in the city.
You can exchange the currency over the counter at some banks in the city. Of course, you can use your credit cards in most of the Taizhou shops. Groceries (bought in grocery stores), rent or other bills will be collected in cash.
As a financial center in Jiangsu, Taizhou has numerous banks and financial companies, both domestic and overseas, which may offer you a series of financial services. Their branches are available all around the city.
Branches, sub-branches and ATMs are everywhere in the city, especially in downtown. You will easily find a dozen in the area where you live. If you use bank cards, you can deposit or get cash in yuan everywhere and any time in the city. Be aware that some charge fees for their services.
You can get the address of the specific branches or ATMs of your favorite banks from their official Websites, Google local guidance or just by dialing the customer service hotline.