According to the Regulations of People's Republic of China (PRC) on Foreign Exchange Control,

Article 4 These Regulations shall apply to the foreign exchange receipts and payments or foreign exchange business activities of domestic institutions and individuals, and the foreign exchange receipts and payments or foreign exchange business activities of overseas institutions and individuals in China.

Article 16 Foreign institutions and individuals who invest directly in China shall register with the foreign exchange administration after being approved by the relevant competent authorities.

Overseas institutions and individuals engaged in the issuance and trading of securities or derivative products in China shall abide by the relevant provisions of the state on market access and register in accordance with the provisions of the foreign exchange administration department of the State Council.

Article 39. Whoever, in violation of regulations, transfers domestic foreign exchange abroad, or cheats domestic capital to escape abroad, shall be ordered by the foreign exchange administration authorities to repatriate foreign exchange within a time limit, and shall be fined not more than 30% of the amount of foreign exchange evaded; If the circumstances are serious, a fine of not less than 30% of the equivalent value shall be imposed; If a crime is constituted, criminal responsibility shall be investigated according to law.

Article 45 Anyone who buys or sells foreign exchange privately, in disguised form, while buying or selling foreign exchange in reverse, or illegally introduces the purchase or sale of foreign exchange in a large amount shall be given a warning, his illegal income shall be confiscated, and a fine of less than 30% of the illegal amount shall be imposed; If the circumstances are serious, a fine of not less than 30% of the illegal amount but not more than the equivalent value shall be imposed; If a crime is constituted, criminal responsibility shall be investigated according to law.

Article 46 Whoever engages in the business of foreign exchange settlement and sale without approval shall be ordered by the foreign exchange administration to make corrections. If there are illegal gains, the illegal gains shall be confiscated. If the illegal income is more than 500,000 yuan, a fine of 1 times but less than 5 times shall be imposed. If there is no illegal income or the illegal income is less than 500,000 yuan, a fine of not less than 500,000 yuan but not more than 2 million yuan shall be imposed; If the circumstances are serious, the relevant competent department shall order it to suspend business for rectification or revoke its business license; If a crime is constituted, criminal responsibility shall be investigated according to law.

Those who engage in foreign exchange business other than settlement and sale of foreign exchange without approval shall be punished by the foreign exchange administration or financial supervision and regulation institutions in accordance with the provisions of the preceding paragraph.