Amount of physical cash to bring

I just read that you're only allowed to bring 5000USD into china without declaring. I understand if it is for individuals but what if you are traveling with 5 other family members? Is it 5000USD per individual or per family? Can two adults carry 5000 each without declaring?

My parents told me it was 10000usd without declaring but I'm not sure.
We are going to arrive at Guangzhou.

Thanks!