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According to the Administrative Rules of the People's Republic of China on Cross-Border Transportation of National Currency issued by China's central bank in December 2004, travelers are allowed to take up to US$5,000 equivalent of foreign currency and 20,000 yuan of local currency (US$1=7.7 yuan) into or out of the country.
There is no need to declare this to customs if the currency you carry is less than the limit.
Amounts up to US$10,000 will require a Permit for Taking Foreign Currency Out of the Customs Territory issued by a bank. Anyone who takes more foreign currency than US$10,000 is required to show a legal warrant issued by agencies of the State Administration of Foreign Exchange (SAFE)
For travelers who leave the country a second time within 15 days, the limit of foreign currency is US$1,000. If you leave the country a second time on the same day, the limit is US$500. If you have a declaration record of foreign currency when entering the country, customs will examine this before authorizing you to pass.
It is quite easy to exchange your currency into CNY, Chinese yuan, at your arrival airport, as well as hotels and banks in China, so it is not really necessary to bring Chinese currency to China.
Since, RMB is not convertible currency, it is impossible to buy larger amounts of RMB outside of China.
I saw sign in Louhu, HK crossing, I think it was about 10 000 Rmb. I am not sure, was it for entering or exiting China.
icnif77:
Thanks for your detailed post above, 98! If I would see your explanation on time, I would skip my 'guessing' post!
Sorry, icni77, it may not be an officially convertible currency but it is omnipresent. One can easily pick up RMB 60,000 at the FOREX counter at L A airport for sure.
You might want to check exchange rates before you leave. You may exchange dollars, for example, here in China at around 6.25 RMB per dollar. Outside China the RMB trades much lower. You could lose 20% exchanging dollars for RMB at the airport. Look around. I suggest you exchange western currency for RMB in China.
In China, exchange currency at Bank of China. They have the best rates, consistent with current exchange rates.
