According to Article 2 of the Detailed Rules for the Implementation of the Measures for the Administration of Individual Foreign Exchange, the annual total amount management is implemented for individual foreign exchange settlement and domestic individual foreign exchange purchase. The annual total is equivalent to 50,000 dollars per person per year. The State Administration of Foreign Exchange may adjust the annual total according to the balance of payments.
The settlement and purchase of foreign exchange within the individual's annual total amount shall be handled at the bank with his valid identity certificate; If it exceeds the annual total, it shall be handled in accordance with Articles 10, 11 and 12 of these Rules under the current account, and in accordance with the relevant provisions of "Personal Foreign Exchange Management in Capital Account" of these Rules under the capital account.
Extended data:
Detailed Rules for the Implementation of the Measures for the Administration of Personal Foreign Exchange Article 12 If the non-operating purchase of foreign exchange under the current account of domestic individuals exceeds the total annual amount, they shall go to the bank with their valid identity documents and relevant proof materials of the transaction amount.
Article 13 Foreign individuals' legitimate RMB current account income and unused RMB purchase shall be handled in accordance with the following provisions:
(1) The legitimate current account RMB income obtained in China shall be purchased with my valid identity certificate and relevant proof materials (including tax vouchers) of the transaction amount.
(two) the original exchange of unused RMB back to foreign exchange, with my valid identity certificate and the original exchange memo, the original exchange memo is valid within 24 months from the date of exchange; Before leaving the country, the exchange of the accumulated value of less than $500 (inclusive) at the domestic customs place on that day and the accumulated value of 1000 (inclusive) on that day can be handled with my valid identity certificate.
Baidu Encyclopedia-Detailed Rules for the Implementation of Measures for the Administration of Personal Foreign Exchange