Is it better to hold dollars or RMB?

Whether you hold dollars or RMB depends on your own investment and financial planning. According to the Measures for the Administration of Personal Foreign Exchange, the annual total amount of foreign exchange settlement and purchase by individuals in China is managed. The annual total amount is equivalent to 50,000 US dollars per person per year, and the validity period of the quota is from 1 to 1 per year. (The annual total amount shall not be used across the Gregorian calendar year, and those unused or not used up in the previous year shall not be carried forward to the next year for use; The State Administration of Foreign Exchange may adjust the annual total according to the balance of payments). When the annual cumulative foreign exchange settlement and sale transaction amount exceeds the equivalent of USD 50,000, the foreign exchange settlement and sale business shall not be handled through electronic channels (when the foreign exchange is settled through online banking channels, the online banking page will display the remaining purchase/settlement amount of the customer this year, and the limit of single foreign exchange settlement and sale cannot exceed the remaining purchase/settlement amount this year).

Tips: The above explanations are for reference only.

Reply time: 202 1-08-03. Please refer to the latest business changes announced by Ping An Bank in official website.

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