According to Article 5 of the Measures for the Administration of Personal Foreign Exchange, 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.
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Measures for the Administration of Personal Foreign Exchange Article 7 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.
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.
Baidu Encyclopedia-Personal Foreign Exchange Management Measures