According to the Detailed Rules for the Implementation of the Measures for the Administration of Personal Foreign Exchange
Article 2 Individual foreign exchange settlement and domestic individual foreign exchange purchase shall be subject to annual total management. 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.
Article 3 Foreign exchange purchased by individuals may be remitted abroad, deposited in foreign exchange savings accounts or taken out of the country according to regulations.
Extended data:
According to the Detailed Rules for the Implementation of the Measures for the Administration of Personal Foreign Exchange
Article 38 If an individual entrusts his immediate family members to handle the purchase and settlement of foreign exchange within the annual total amount, he shall provide the valid identity documents of the principal and the trustee, the power of attorney of the principal and the certificate of immediate family members respectively; In other cases, in addition to providing valid identity documents and power of attorney of both parties, relevant certification materials stipulated in these Rules shall also be provided.
Immediate family members refer to parents, children and spouses. The proof of lineal relatives refers to the valid proof of kinship issued by the household registration book, marriage certificate, street office and other grassroots government organizations or public security departments and notary departments of lineal relatives.
Article 39 Anyone who violates the Measures for the Administration of Personal Foreign Exchange and these Detailed Rules shall be punished by the State Administration of Foreign Exchange in accordance with the Regulations of People's Republic of China (PRC) Municipality on Foreign Exchange Administration and other relevant provisions. If there are no explicit provisions in the Regulations of People's Republic of China (PRC) on Foreign Exchange Control and other relevant provisions, banks and individuals will be fined RMB 30,000 and RMB 1 000 respectively.
Baidu Encyclopedia-Detailed Rules for the Implementation of Measures for the Administration of Personal Foreign Exchange