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Old Apr 20, 2024 | 9:42 pm
  #324  
tauphi
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Originally Posted by YariGuy
I confirmed at a Bank of China branch today that foreign passport holders are allowed to exchange RMB for US$500 (or equivalent other currencies) per day with no tax receipt requirements.

Do this 200X a year, and that's $100k.

The teller did recommend that one doesn't do this more than 3X a week.
You're still bound by the annual US$50,000 limit and yes they will check this before each transaction. However, I think the tracking is based on passport number. So theoretically you could try using two different passports to get around this.
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