![]() Conversion of the RMB into foreign currency cash, and into foreign currency convertible bank notes when leaving China.Ĭash in all convertible foreign currencies, and convertible bank notes in all foreign currencies that can be legally drawn, may be converted into the RMB, provided that CCB trade in these currencies. The authorized agencies can only convert foreign currencies into RMB.Ĭonversion of foreign currency cash into the RMB, and of foreign currency convertible bank notes into the RMB. The channels include the approved CCB outlets and the authorized foreign currency conversion agencies. Collection: CCB may collect the old foreign currencies, which have been stopped from circulating but still have values and can be converted at the issuing banks without day with the consent of the currency holder. The validity period last for 6 months from the day the conversion takes place.ģ. Foreign residents may convert their unspent RMB back into their currencies within the validity period and the original converted amount. Foreign residents in China can convert their RMB into foreign currencies or vice versa.Ģ. In accordance with the regulations of PRC, Chinese residents can only convert their foreign currencies into RMB. Conversion of foreign currencies into RMB. CCB will comply with the rates set by the PBC.ġ. The tellers all obtained the qualification for conducting foreign exchange transactions, with service quality guaranteed.ģ. CCB, as a well-known domestic and international bank, may offer integrated services.Ģ. Three major reasons for selecting CCB’s foreign currency conversionġ. Only foreign visitors, foreign nationals of Chinese descent, and residents of Hong Kong, Macau and Taiwan may convert their unused RMB into foreign currency, when they leave China. Therefore, Chinese residents can only convert one foreign currency into another, or into the RMB. However, they may not convert their RMB into foreign currency. According to China’s foreign currency regulations, Chinese residents who hold foreign-currency cash or deposits may convert the foreign currency into other foreign currencies or the RMB at the exchange rates set by the People’s Bank of China at a CCB foreign currency counter. Foreign currency conversion is defined as the conversion between foreign currency cash/convertible bank notes and the RMB Chinese and foreign residents at approved CCB outlets and authorized conversion agencies.
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