Question

Asked by James from china | Feb. 18, 2014 08:00

About:China Customs Declaration

CNY Renminbi Currency INTO China

I want to bring between 100,000 and 200,000 RMB into China [i.e. NOT foreign currency] - do I still need to declare this, and if so - will I need to pay any fees for bringing it here?

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Answers (2)

Answered by Tracy | Feb. 18, 2014 21:17

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According to the regulations, you can't bring more than 20000 RMB into PRC. If you do, you should declare it to the customs. In your situation, you should declare it to the customs. But I don't think it's a good idea for you to bring so much cash because the rest of your money is not allowed to be brought into PRC though you declare it to the customs.

Here is a solution. You can bring less than 20000 RMB and take the rest money as a traveller's cheque or deposit in your bank account and bring your debit card with you.

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Answered by James | Feb. 19, 2014 21:56

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Thanks for the idea, but on looking into it, I'd still have to pay for the cheques [I'm not clear how much], and I'm also uncertain whether or not I'd be able to cash the cheques here in China. The reason I don't put it into my debit card is that [even though I have an HSBC account in the UK] they would give a poor exchange rate and charge an unreasonable amount to make it available in China. I'll have to see how much TC's cost. Also there's no HSBC bank in my city, so I'd have to go to a major city like Shanghai, HK or Beijing etc. A banker here has offered his international money card - I could deposit money into it [only in London, he says, far from my UK home] and access it here with my ICBC account... I'm still looking into the costs of that. I hope to use the observer exchange company to get a good rate for RMB.

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