According to the new foreign exchange purchase management policy for domestic residents, domestic residents should first purchase foreign exchange within the annual total of 20,000 US dollars. For the part exceeding the annual total amount, the authenticity certification materials of cross-border transactions of current account marked with the transaction price shall be provided, and the part exceeding the annual total amount of foreign exchange purchases shall not be deposited into personal foreign exchange accounts. According to reports, if domestic residents want to buy tuition and living expenses for studying abroad at their own expense that exceed the total amount of foreign exchange purchased in that year, they need to provide the following three materials: one is their personal passport and valid visa (or endorsement), the other is the admission notice of overseas schools (tuition or living expenses after the second academic year or semester are not required), and the third is the tuition or living expenses certificate of the corresponding academic year or semester of overseas schools. China residents who are unable to provide the original admission notice and tuition certificate of overseas schools can provide fax or online download.

It is understood that when domestic residents purchase a self-funded study abroad deposit exceeding the total annual foreign exchange purchase, the materials they should provide include: First, a personal passport; Two, the overseas school admission notice (tuition or living expenses need not be provided after the second school year or semester); Third, proof of tuition or living expenses of overseas schools. China residents who are unable to provide the original admission notice and tuition certificate of overseas schools can provide fax or online download.

It should be noted that the new policy stipulates that the part exceeding the total amount of foreign exchange purchased in the current year may not be deposited in personal foreign exchange accounts, but may be directly remitted abroad, and may be taken out of the country with bills of exchange, traveler's checks, credit cards, etc. , each person can withdraw no more than the equivalent of $2,000 (including $2,000) in foreign currency cash at a time.