The restrictions on the purchase of foreign exchange by such individuals are often more troublesome in China, which is much looser than in previous years.
All banks can handle personal remittance in foreign currency. The procedure is simple. Open a debit card or savings passbook and ask the bank to provide the English information format of the collection account (the so-called remittance route guidance may vary with different currencies). You can fill in personal account information and provide it to the other party. Sometimes other banks will need your personal address. You have to translate this into English yourself.
However, in China, the amount of foreign currency obtained from foreign exchange is limited. The limit of a person's annual foreign exchange settlement is equivalent to $50,000. If your total foreign exchange settlement exceeds 50,000 dollars a year, you should apply for a personal foreign exchange account with SAFE, explain the source of funds and provide relevant information. It will also involve a series of audits and taxes, which will be a bit troublesome, and now the banking policies in different regions will be different. Banks in Dalian, Shanghai and Beijing will be different, and the acceptable quota will be different. I suggest you go to the bank and ask carefully. The rules of those big banks are similar. You can find a small bank like Shanghai Pudong Development Bank, and their methods are often flexible ~
In addition, ordinary personal accounts cannot accept foreign currency remittances from foreign companies, which is tax evasion and will not be handled for you without special relationship.
But then again, what can't be done in this world as long as it is important? ~