How to transfer a large amount of overseas funds to China?

According to the newly revised Measures for Reporting Balance of Payments Statistics, starting from 20 14 10, China residents with overseas financial assets and liabilities shall declare their overseas financial assets and liabilities in accordance with the provisions of the State Administration of Foreign Exchange. People in the industry generally believe that this provision is not only to improve the foreign exchange statistics system in accordance with international common standards, but also to show from one side that the overseas investment of Chinese residents has reached a considerable scale. However, at present, the RMB is not freely convertible, and China's control over capital projects is still very strict. The amount of foreign exchange purchased by individuals each year is only $50,000;

Then, how to transfer a large amount of overseas funds to China is as follows:

Normal funds within 1 USD and 50,000 USD shall be directly wired to domestic banks for withdrawal. There is a foreign exchange limit of $50,000 per person per year.

2. Open a bank account in Hong Kong. Withdraw money to Hong Kong, and then withdraw RMB from domestic cash machines. You can withdraw 20,000 RMB every day, excluding the foreign exchange limit of 50,000 US dollars. But the handling fee is high, and both banks and paypal have to make money, which is the way most Ebay sellers use it at present.

3. If you have the ability, open an American bank account and apply to paypal to upgrade your account to an American paypal account. Take the money to the Bank of America and write a check to your account in Hong Kong. Take US dollars in cash directly in Hong Kong, and find a bank to directly change US dollars into RMB. This is the most economical and will not be included in the limit of 50 thousand dollars. Generally speaking, paypal accounts do not have a monthly transaction volume of several hundred thousand dollars, and paypal will not help you convert your account into an American account. This is a special treatment for big sellers.