December 2014

Foreign exchange settlement and sale---Denise Xia

As we all know, China has its policy on foreign exchange settlement and sale. Generally, the policy was divided to four parts, personal, trade of goods, trade of service, and capital fund. Hopefully the following brief policy introduction will help.

Personal Foreign exchange settlement and sale

Limited amount, USD50, 000 a year;

Deposited in foreign currency account, USD5, 000 a day;

Withdrawal from foreign currency account, USD10, 000 a day;

Transferred foreign cash to oversea account, USD10, 000 a day;

Transferred to oversea account through foreign currency account, USD50, 000 a day.

Trade of goods