Various commercial banks approved by the state to engage in foreign exchange business, such as China Bank, China Industrial and Commercial Bank, China Agricultural Bank and China Construction Bank. It is illegal to exchange foreign currency in places other than designated foreign exchange banks and legal foreign exchange exchange points.

Domestic convertible foreign currencies mainly include: British pound, Hong Kong dollar, US dollar, Swiss franc, Singapore dollar, Swedish krona, Danish krona, Norwegian krona, Japanese yen, Canadian dollar, Australian dollar, euro, Macao dollar, Philippine peso, Thai baht, New Zealand dollar and Korean won. Other foreign currencies are not convertible in our country.

Extended data:

Domestic individuals selling or buying foreign exchange (that is, settlement and sale of foreign exchange) shall be subject to annual total management. The annual total is equivalent to 50,000 dollars per person per year. Individuals who purchase foreign exchange with the equivalent of less than $50,000 within one year can go directly to the bank with their valid identity documents. If it exceeds the limit, in addition to the valid personal identity documents, it is necessary to go to the designated foreign exchange bank to handle the relevant certification materials that need to be paid.

If the accumulated foreign exchange in the foreign exchange savings account on the day of remittance abroad is less than $50,000 (inclusive), I will go to the bank with my valid identity certificate; If it exceeds the above amount, it shall be handled with the authenticity certificate of the transaction amount under the current account.

Hand-held foreign currency cash with a cumulative equivalent of less than $654.38 million on the remittance day shall be handled at the bank with my valid identity certificate; If the amount exceeds the above amount, it shall be handled by the authenticity certificate of the transaction amount under the current account, the Declaration Form for Luggage and Articles of Inbound Passengers in People's Republic of China (PRC) and China Customs signed by the customs, or the foreign currency cash withdrawal certificate of my original bank.

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