According to the provisions of Article 45 of the Regulations on Foreign Exchange Control in People's Republic of China (PRC), those who buy and sell foreign exchange privately, buy and sell foreign exchange in disguised form, buy and sell foreign exchange in reverse, or illegally introduce or buy and sell foreign exchange in a large amount shall be given a warning by the foreign exchange administration authorities, their 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 equivalent to more than 30% of the illegal amount shall be imposed; If a crime is constituted, criminal responsibility shall be investigated according to law.

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Foreign exchange is the creditor's rights held by the monetary management authorities: the central bank, monetary management institutions, foreign exchange stabilization funds and the Ministry of Finance in the form of bank deposits, treasury bills, long-term and short-term government securities, etc. Can be used when the balance of payments is in deficit.

Including foreign currency, foreign currency deposits, foreign currency securities and foreign currency payment vouchers, as of 20 15, China ranks first among foreign exchange reserves of governments in the world. References:

China Government Network-Regulations of People's Republic of China (PRC) Municipality on Foreign Exchange Management