China Bank, China Industrial and Commercial Bank, China Agricultural Bank, China Construction Bank and other commercial banks approved by the state can handle foreign exchange business. It is illegal to exchange foreign currency in places other than designated foreign exchange banks and legal foreign exchange exchange points.

Domestic individuals selling or buying foreign exchange (that is, settlement and sale of foreign exchange) shall be subject to annual total management. The annual total is equivalent to 50,000 dollars per person per year. Individuals who purchase foreign exchange with the equivalent of less than $50,000 within one year can go directly to the bank with their valid identity documents. If the amount exceeds the limit, in addition to the personal valid identity certificate, relevant certification materials shall be provided for payment at the designated foreign exchange bank.

Extended data

Treatment process

Customers can handle it with their valid identity documents, fill in relevant documents and pay cash. Valid identification documents include: my ID card (China citizen, household registration book (/kloc-China citizen under 0/6), military ID card (China People's Liberation Army), Armed Police ID card (China People's Armed Police), Hong Kong and Macao residents' mainland travel permit (Hong Kong and Macao residents), mainland travel permit for taiwan residents (Taiwan Province residents) and passport (foreign citizens).

Remittance refund procedure

Overseas individuals who have not used up the original RMB exchange can exchange it with their valid identity documents and the original China Bank exchange memo. The validity of the original exchange memo is 24 months from the exchange date. For the exchange of less than the equivalent of $500 (inclusive) on the same day and the equivalent of 1000 (inclusive) on the day before leaving the country, you can handle it with your valid identity document.

Baidu encyclopedia-foreign exchange

Bank of China-foreign currency exchange office