News + Events
Greater China Practice - Circular on Trial Regulations on Foreign Currency Exchange Services for Individuals in Beijing and Shanghai - State Administration of Foreign Exchange - 批准在北京、上海进行个人本外币兑换特许业务试点 - 国家外汇管理局
September 19, 2008
Released on August 20, and effective as of the same date
This circular outlines trial regulations allowing qualified domestic non-financial institutions in Beijing and Shanghai to offer currency exchange services to individuals (up to a daily maximum of USD500). Permitted services include domestic foreign exchange purchase and settlement, offshore individual foreign exchange settlement businesses and other foreign exchange services.
Institutions permitted to provide such foreign exchange services must display appropriate signage, as designated by SAFE.