Originally Posted by
travelinmanS
Foreigners cannot transfer out the 50K per year unless they have tax receipts for that money. They can transfer out whatever amount of money they have paid tax on regardless of how much or how little it is. Chinese citizens can transfer 50K a year no questions asked.
Again the limit is not on the transfer. If you already have the USD sitting in your bank account you can transfer as much as you wish.
The limit is on converting CNY into USD (or another currency).
As for the annual limit on conversions, foreign nationals are entitled to exchange up to USD500 per day with no proof, up to USD50k per annum. I actually did that during my first stint in China before I had tax receipts and ran into the annual limit.