How to exchange USD to RMB in China after hitting the annual limit of USD50,000?

Question

China has set a regulation to all individual (no matter native or foreigner) that everyone can only exchange the equivalent of USD50,000 to RMB within a calendar year. it is tracked based on one's passport number, so having multi bank account under same individual's name doesn't work.

Answer 1

I was told by a Citi Bank clerk in Shanghai that they would send a request on behalf of me to some Chinese government agency for approval. Presumably if it is approved, I can get additional exchange. But I never actually tried. You can ask your bank about that.  

Answer 2

please send your request to [e-mail]

if you are in Shanghai, we will provide service to assist you exchange USD or other foreign currency to RMB at bank within your own bank account.

if you are in other location, we will guide you step by step to complete the exchange.

Answer 3

Get a Chinese friend to do so.

That way it is on there passport.

Answer 4

Take the help of some one else .. hehehe

Answer 5

You can change privately. who need to change from one currency to another. Just be careful of fake banknotes.

I do it too. I get RMB, and pay US$ into a US account.