If the remittance business from Hong Kong to the Bank of China account in the Mainland is handled, the current foreign exchange management policy requires nothing more than completing the declaration procedures in accordance with the provisions of the State Administration of Foreign Exchange on the declaration of international payments.

The specific provisions of the declaration of balance of payments are as follows: the declaration of balance of payments is exempt from the declaration under the personal and foreign-related income and expenditure limit equivalent to less than $5,000 (including $5,000), that is, the individual declaration subject is exempt from filling in the declaration information in the foreign-related income and expenditure voucher (except for the money received and paid overseas by domestic non-resident individuals through domestic banks).

For inward remittance whose remittance amount exceeds the balance of payments declaration limit (US$ 5,000), the formalities shall be handled in accordance with the relevant declaration and statistics regulations of the local foreign exchange administration. Handling outlets will take the initiative to contact by telephone, and customers who need to declare need to fill in the declaration form at the outlets. Different customers need to declare different information. Failure to provide information and materials that meet the declaration requirements may affect entry. For specific reporting requirements, please consult the branch of China Bank.

The above contents are for your reference. Please refer to the actual business regulations.

If you have any questions, please contact online customer service of Bank of China.

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