Since January 1, 2005, the limit of RMB per person for Chinese citizens and foreigners entering and exiting the country has been adjusted from the original 6,000 yuan to 20,000 yuan. This is the first time since 1993 that the central bank has increased the RMB entry and exit limits. The relevant person in charge of the central bank stated that with the improvement of the living standards of Chinese residents and the increasingly frequent personal exchanges with foreign countries, the current limit of 6,000 yuan per person for each entry and exit of banknotes can no longer meet the needs of Chinese residents for overseas travel, business, and study abroad. In addition, the RMB exchange rate is stable and the currency value is strong. Demand from neighboring countries and regions is increasing, and the scale of RMB circulation is also expanding. It is necessary to adjust the entry and exit limits for RMB. Currently, mainland residents carry RMB into and out of the country mainly for consumption in Hong Kong and Macau. In addition, with the development of border trade, RMB has also become the main currency for border trade settlement in neighboring countries such as Russia, Mongolia, Vietnam, Myanmar, and Nepal. In fact, Hong Kong realized free travel with UnionPay cards in the Mainland as early as last year, and Macau also launched this service not long ago. Mainland residents holding UnionPay cards issued by local banks can freely use their cards to make purchases at merchants with the UnionPay logo in Hong Kong and Macao. They can spend as much money as they have on the card. This has actually exceeded the upper limit of 6,000 yuan in entry-exit banknotes. However, there are still some restrictions on using bank cards for cross-border consumption. For example, in Hong Kong and Macao, cards can only be swiped at merchants with the UnionPay logo. Using bank transfers or travellers' checks also has disadvantages such as high service fees and few exchange outlets. When residents travel abroad, they are not familiar with the services provided by overseas financial institutions and are subject to language restrictions, so they are more accustomed to using RMB cash for consumption abroad.

The central bank stated that in the future, while objectively treating the preferences of entry and exit personnel for cash consumption and adjusting entry and exit limit standards, it will also actively develop and promote non-cash settlement methods to minimize the carrying and use of cash