1. Foreign exchange entry restrictions, foreign exchange can be converted into RMB with ID documents, and the annual limit is 50,000 US dollars or equivalent foreign exchange per person. If you need to settle foreign exchange for more than 50,000 US dollars, you need to present your identity document and documents proving the source of foreign exchange and the purpose of foreign exchange.
2. If you need to remit money from abroad, you can first open a foreign exchange account in a domestic bank (such as Bank of China), and then remit money from abroad to this account. There is no limit to the amount. , but you need to pay attention to the purpose of remittance and do not fill in investment or similar purposes.
3. After receiving foreign exchange, you can settle the exchange into RMB with your ID (within 50,000 US dollars per year per person only with your ID), withdraw foreign exchange in cash, or deposit it as a fixed term. If you need to remit it abroad, it is also possible.
Extended information:
Remittances from overseas banks to China
1. For bank wire transfer, the first thing is to choose a bank. It is best to choose an overseas branch of a domestic bank or A bank that has a direct account relationship between the remittance bank and the remittance bank. This eliminates the need for one or several remittance banks. First, it saves time and expenses, because each remittance bank will deduct a sum from it when doing transfer business. Transfer fees, this is why the actual money received is less than the amount sent.
2. The procedure for receiving Western Union remittance is also simple. After the recipient receives the remittance collection notice (the remitter will inform the recipient of the remittance information and remittance monitoring number), he must recognize the Western Union remittance logo and go to the nearest The Agricultural Bank of China and China Post (Savings Bank) act as agents at Western Union outlets to handle the remittance procedures; the payee fills out the Western Union "Remittance Collection Form" and presents his or her valid ID.
3. After the operator verifies that the payee’s identity certificate and password are correct, the remittance will be paid to the payee. The payee must collect Western Union money in person and cannot entrust others to collect it on his behalf. The amount of remittance received by individuals is the same as that of wire transfer, and shall be handled in accordance with the policies of the State Administration of Foreign Exchange. It is also free for the remittance bank to receive the remittance, and the remittance bank has already collected the fees.