China's Requirements For Foreign Currency Control

- Mar 20, 2018 -

The dollar, the euro, the pound, the new dollar and the other overseas currencies


1.In China, personal swap limit of $50 thousand per year or equivalent foreign currency is limited, in this trade, overseas customers with export demand suggest enterprises the right to purchase goods China. If the Chinese supplier does not have the export right, please contact the export company of professional agent to help you to solve the payment problem. And there are too many currencies every time from overseas. It's not what the customs of every country would like to see. It is very important to sign an agency agreement for overseas trade. The qualification of bank opening, business license and export qualification can be obtained from Chinese enterprises (the Chinese customs have done the record).

After remittances to the enterprise, the enterprise remittances to the Chinese producers, declaring exports and requiring all overseas customs clearance documents.


2. China can register its own Off Shore Company. Chinese enterprises, natural legal persons and aliens can also be registered, but they need to have certain fixed jobs and assets in China. A registered Off Shore Company must have the same name in China and a company that has been operating for many years. Off Shore Company registered: Hongkong, Singapore, Britain, France, American and archipelago. The banks that can be registered are: China Communications Bank, China Merchants Bank, Shanghai Pudong Development Bank, Shenzhen Development Bank, HSBC, Standard Chartered Bank, Hengfeng bank and other overseas registered banks. The scope of the operation permits the entry of large amounts of dollars and equivalent currencies. But there should be regular management qualifications.


3. enterprises with registered import or export qualification must be Chinese enterprises as legal persons, and legal persons must hold 51% shares. Overseas investors can take up to 49% of the shares at most. In China, the enterprise is a joint venture. Overseas investment can not directly occupy 100% of the equity. Because the law of China is not allowed.


4.The main areas that can not receive foreign currency are Yiwu, Guangzhou, Shenzhen, Ningbo, Sichuan, Hunan, Jiangxi and other places. Because these places are mainly local small traders more, the price is relatively low. A relatively dense area of light industry.