1. Everyone in mainland China will have an annual settlement limit of 5W USD, which can be settled directly online or by converting USD into RMB at the bank counter. If your foreign exchange settlement quota has been used up, you can transfer money at the bank counter with your immediate family members, transfer the US dollars in your account to your immediate family members' account, and use their foreign exchange settlement quota to settle foreign exchange.
2. Transfer to an enterprise account with foreign exchange function in China, open relevant documents to SAFE to increase the amount of foreign exchange settlement, and settle foreign exchange as a company (it will involve import and export and tax-related expenses).
China is a country with strict foreign exchange control. Except for the business needs of foreign trade and foreign-funded enterprises, residents are not allowed to exchange RMB from banks for other foreign exchange at will. Used for studying abroad, traveling, visiting relatives, etc. You can go to the bank to exchange foreign exchange, but the maximum amount per person per year is only $50,000.
Residents who use a large amount of foreign exchange to study abroad may apply to the local foreign exchange administration department. Then, with the approval of SAFE, the RMB will be converted into foreign currency at the relevant local bank.
China Bank is the most convenient bank to exchange foreign currency among all banks, with the lowest price difference and the largest amount of currency exchange. For large exchange, it is generally necessary to make an appointment in advance.
Because you need to bring your ID card to exchange foreign currency, you can apply for a maximum of $50,000 per ID card, or other foreign currencies equivalent to $50,000. If you change more than $50,000, you need to apply to the bank. You can also apply for another $50,000 with your family ID card.
Extended data
Generally speaking, the annual foreign exchange is up to 50,000 US dollars; Exceeding this limit shall be reported to the superior management organization for approval. If it is not enough, the general method is to apply once a year or exchange the ID cards of different family members for money, or find a higher-level bank for approval.
If you already have foreign exchange (freely convertible currencies, such as US dollars, Japanese yen, marks, Hong Kong dollars, etc.). ), can be directly converted into other foreign currencies in the bank.
According to the regulations of China, ordinary residents are not allowed to take more than $2,000 in cash out of the country. Otherwise, it will be very troublesome to be found out when leaving the country. The general practice is that when applying for foreign exchange, the People's Bank of China specifically requires the People's Bank of China to issue an exit certificate with foreign exchange, indicating the currency and quantity of foreign exchange. With this certificate, you can rest easy.
References:
Baidu Encyclopedia-Regulations of People's Republic of China (PRC) Municipality on Foreign Exchange Management