Legal Analysis: In order to facilitate personal foreign exchange receipts and payments, simplify business procedures and standardize foreign exchange management, the Measures for Personal Foreign Exchange Management are formulated in accordance with the Regulations of People's Republic of China (PRC) on Foreign Exchange Management and the Regulations on the Administration of Settlement, Sale and Payment of Foreign Exchange.

Legal basis: Measures for the Administration of Personal Foreign Exchange

Article 1 In order to facilitate individual foreign exchange receipts and payments, simplify business procedures and standardize foreign exchange management, these Measures are formulated in accordance with the Regulations of People's Republic of China (PRC) Municipality on Foreign Exchange Management and the Regulations on the Administration of Settlement, Sale and Payment of Foreign Exchange.

Article 2 Personal foreign exchange business is divided into domestic and overseas personal foreign exchange business according to the transaction subject, and personal foreign exchange business under current account and capital account is divided into domestic and overseas personal foreign exchange business according to the transaction nature. Manage personal foreign exchange business according to the above classification.