The foreign exchange settlement quota has been implemented since 2007. From February 1 2007, the single limit will be cancelled when individuals go to the bank to exchange foreign currency into RMB (that is, to settle foreign exchange). As long as the total amount of personal annual foreign exchange settlement is within a certain limit, you can go to the bank with your ID card. Yesterday, the People's Bank of China issued the Measures for the Administration of Personal Foreign Exchange, which relaxed a number of management policies. According to the relevant "Measures", individual foreign exchange settlement will cancel the single quota management and implement the annual total management instead. Anything within the annual total can be handled directly in the bank with my identity certificate, and there is no need to provide proof of foreign exchange source. If it exceeds the annual total, foreign exchange involving trade and other current items will be provided to the bank for review, and foreign exchange involving investment and other capital items will be reviewed by the local foreign exchange bureau.