Five Things to Know about Personal Forex Purchases in China

By Dong Tongjian

During the New Year weekend, China’s State Administration of Foreign Exchange (SAFE) amended rules governing the purchase of foreign currency by Chinese citizens. Contrary to earlier widespread rumors, the exchange did not lower the amount that can be exchanged by individuals, but it did tighten scrutiny over the purchases.

1. What is the current quota for Chinese citizens purchasing foreign currency?

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