Examination and approval procedures of the State Administration of Foreign Exchange for remittance abroad

We have been engaged in foreign import agency business and are familiar with the basic foreign exchange policies:

1, the maximum amount of foreign exchange that an individual can buy in a year is equivalent to 50,000 US dollars.

2. Individuals may not pay foreign currency to overseas enterprises.

3. Enterprises need to send money abroad, apply for import and export rights, purchase foreign exchange from banks with relevant documents, and then send money abroad.

Enterprises in China are not allowed to remit money to foreign individuals.

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