交换 (jiāo huàn) is a verb meaning 'to exchange' or 'to swap' — to give something and receive something else of similar value or relevance in return. The first character, 交 (jiāo), conveys ideas of connection, interaction, or handing over; the second, 换 (huàn), means 'to change', 'to replace', or 'to substitute'. Together, they emphasize mutual transfer: both parties give and receive. It’s commonly used for tangible items (e.g., gifts, phone numbers, business cards), intangible things (e.g., ideas, experiences, information), or formal arrangements (e.g., student exchanges).

This word implies reciprocity and intentionality — unlike one-way actions like 'giving' or 'receiving', 交换 always involves two-sided action. It’s neutral in register and widely used in daily conversation, education, business, and diplomacy. While it can appear in compound nouns (e.g., 交换生 'exchange student'), its core grammatical function is verbal — it typically takes an object and often appears with aspect particles like 了 or 过.