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Chinese individuals have a $50,000 USD annual limit on buying foreign exchange/or placing foreign wires. You can read up all about it on the State Administratio
by phyalow 5y ago
Chinese individuals have a $50,000 USD annual limit on buying foreign exchange/or placing foreign wires. You can read up all about it on the State Administration for Foreign Exchange (SAFE) a.k.a. the Chinese capital control regulator's website e.g. https://www.safe.gov.cn/en/2017/1230/1391.html https://www.safe.gov.cn/en/2017/1230/1391.html
Chinese corporations must too also observe strict limits on foreign exchange transfers (although the limits are a little higher).
Foreign investors in China have ongoing and substantial difficulty repatriating money/earnings and have previously had to rely on pools of capital known as "QFII" https://en.wikipedia.org/wiki/Qualified_Foreign_Institutional_Investor https://en.wikipedia.org/wiki/Qualified_Foreign_Institutiona... , things have improved somewhat in recent years, but it would only take a minor unexpected decline/appreciation in the CNYUSD or CNH/CNY spread for things to tighten back up.
- Naijoko 5y agook thank you I didnt know that. I got regular money from china so I asumed it wasnt that difficult