Can the Australian dollars bought by China Bank be converted into RMB?
Of course. According to the regulations of SAFE, the settlement of foreign exchange within the total annual amount of domestic individuals (equivalent to $50,000 per person per year) can be handled in the bank with my valid identity documents (settlement of foreign currency cash can be handled in the bank with my valid identity documents, if the accumulated settlement amount on that day is below $5,000 (inclusive)). According to the inquiry, any bank with foreign currency exchange function can exchange it on the spot. However, if the exchange amount is large, you need to make an appointment in advance to exchange bank stores.