Answered by Ram Nif from China | Aug. 15, 2015 02:53
Thanks, Ruby! I'm in Kaifeng, Henan. Chinese Custom law is a bit tricky, because I purchased 50g bar in HK, and returned to China without talking to anybody at entry in Luohu. As I understand regulations, I am not required to declare it, because it's 50g PM bar. How if I do same purchase several times, and always bring in 50g or less PM bar without declaration!?
Now, I'm exiting China to EU at Beijing's Airport with some 200g PM bars, and I declare it. Will custom let me take it out of China, or PM over 50g will be confiscated? I have all purchasing receipts, and I pay tax in China.
I'm guessing, best bet would be to leave PM bars in HK retailer for safekeeping after the purchase, and then fly out of China from HK Airport. As I see HK doesn't have listed any restrictions on PM export.
That restriction bothers me, because I'm not doing anything illegal by converting my Rmb savings to PM. It's my 5th year of working in China, and saved amount is maybe 10 times larger than 50g restriction. I wanted to make sure, I understand matter correctly: 'Can I take my savings in PM bullion out of China?'.
I will ask Chinese national for help on clearing the matter with Chinese Custom office. Thanks!