Legal analysis: Banks should handle foreign exchange receipts and payments, settlement and sale of foreign exchange and open foreign exchange accounts for individuals in accordance with the provisions of these Measures, and check the authenticity of valid identity documents and relevant certification materials submitted by individuals. Remittance agencies and foreign currency exchange agencies (including exchange points) handle personal foreign exchange business for individuals in accordance with the provisions of these Measures. Banks and individuals shall abide by the relevant provisions of these Measures when handling personal foreign exchange business, and shall not evade quota supervision by splitting, and shall not use false commercial documents or vouchers to evade authenticity management. Individuals' cross-border receipts and payments shall go through the formalities of declaration of balance of payments statistics in accordance with the relevant provisions of the declaration of balance of payments statistics. Individual foreign exchange settlement and domestic individual foreign exchange purchase are subject to annual total management. Within the total annual amount, it shall be handled in the bank with my valid identity certificate; If it exceeds the annual total, it shall be handled by the bank under the current account with my valid identity certificate and relevant proof of the transaction amount. Personal foreign exchange remitted abroad by domestic individuals due to current account expenditure, which is less than the specified amount in a single remittance or accumulated remittance on the same day, shall be handled at the bank with my valid identity certificate; If a single remittance or the accumulated remittance on the same day exceeds the specified amount, it shall be handled at the bank with my valid identity certificate and relevant proof of the transaction amount.

Legal basis: Measures for the Administration of Personal Foreign Exchange

Article 5 Individuals shall handle relevant foreign exchange business in accordance with the provisions of these Measures. Banks shall handle foreign exchange receipts and payments, settlement and sale of foreign exchange and open foreign exchange accounts for individuals in accordance with the provisions of these Measures, and examine the authenticity of valid identity documents and relevant certification materials submitted by individuals. Remittance agencies and foreign currency exchange agencies (including exchange points) handle personal foreign exchange business for individuals in accordance with the provisions of these Measures.

Article 7 When handling personal foreign exchange business, banks and individuals shall abide by the relevant provisions of these Measures, and shall not evade quota supervision by splitting, or use false commercial documents or vouchers to evade authenticity management.

Article 8 Individuals' cross-border receipts and payments shall go through the procedures for the declaration of balance of payments statistics in accordance with the relevant provisions on the declaration of balance of payments statistics.

Article 9 Individual settlement of foreign exchange and domestic individual purchase of foreign exchange shall be subject to annual total management. Within the total annual amount, it shall be handled in the bank with my valid identity certificate; If it exceeds the annual total, it shall be handled in the bank with my valid identity certificate and relevant certificates of the transaction amount under the current account, and under the capital account, it shall be handled in accordance with the relevant provisions of Chapter III.

Article 12 If a domestic individual remits foreign exchange from the current account abroad, and the single remittance or the accumulated remittance amount on that day is less than the specified amount, he shall go to the bank with his valid identity certificate; If a single remittance or the accumulated remittance on the same day exceeds the specified amount, it shall be handled at the bank with my valid identity certificate and relevant proof of the transaction amount.

Article 20 Domestic individuals who need to purchase and pay foreign exchange for overseas donations and property transfer shall comply with relevant regulations and obtain the approval of the foreign exchange bureau.

Article 21 Domestic individuals who provide loans, borrow foreign debts, provide external guarantees and directly participate in overseas commodity futures and financial derivatives transactions shall comply with relevant regulations and go through corresponding registration procedures at the foreign exchange bureau.