tips on living abroad:
foreign exchange system
China is a country with strict foreign exchange control, and residents are not allowed to exchange RMB for other foreign exchange from banks at will, except for foreign trade and business needs of foreign-funded enterprises. If you want to go abroad for studying abroad, traveling, visiting relatives, etc., you can apply to the local people's bank for foreign exchange.
Foreign exchange places
Residents who want to use foreign exchange for studying abroad can apply to the local foreign exchange administration (the address is the same as that of the People's Bank of China); Then with the approval of safe; Go to the local bank in China and exchange RMB for foreign currency.
Specific procedures
First, bring your passport, admission notice, ID card and other supporting materials to the local foreign exchange administration to apply for foreign exchange approval; Then, with the foreign exchange approval certificate from the SAFE, you can go to the personal business department of the local China Bank to exchange foreign exchange. Generally, the same amount of RMB is deposited into the Bank of China account first, and then transferred to the Bank of China for foreign exchange. The specific process will be informed by BOC at that time.
exchange limit
Generally speaking, the maximum amount of foreign exchange approved by the central branches (big cities) of the People's Bank of China for studying abroad in one year is 9999 dollars; Above this limit, it must be approved by the higher management organization. If it is not enough, the general method is to apply once a year, or wait for the approval of the higher bank.
Residents can freely exchange their foreign currency (freely convertible currencies, such as US dollars, Japanese yen, marks and Hong Kong dollars) for other foreign currencies at the Bank of China. Without the approval of the People's Bank of China.