LG -- 27 December 2004

If a foreigner decides to live in China for a long time and buy some property like an apartment,how does he bring the money with him from his own coutry?And also if a foreign finishes his contract in China and wants to go back home,how does he bring the money home without people charging him 30%?It is so complicated,anyone who knows please direct me!

_________________

us dollars
da yan jing -- 27 December 2004

It's actually really easy. Do everything in US dollars, or US traveller's cheques.

To bring money into the country - bring all of your money in US dollars or US traveller's cheques. If you are Canadian, I know of a few banks that you can use your Debit card internationally. You can also put money onto your visa and take it out when in China.

To get money out of China without the fee, just use the black market. It's a lot easier than it sounds, they are the guys hanging around outside the banks, and if you are having a hard time finding them, you can even ask the bank staff how to find them! The exchange rate should be about the same as the bank, and you don't need any documentation. There are money checking machines inside the bank, make sure that the guy you are changing money with shows you that it is authentic with those machines, or you can just watch him withdraw the US dollars from the teller.

__________________

Thank You.
LG -- 27 December 2004

Thank you very much,that's very helpful.one more question:do they exchange pounds in the black maket?
I was looking for those people but never have found any,maybe because my city is too small.

_________________

pounds
da yan jing -- 27 December 2004

I'm sure they do, but it's easiest with American dollars. Try converting to American before you leave your home country. If you're already in China and have pounds, give the black market a shot, but check the exchange rates before you do, don't just trust their word on it.

Good luck,

Da Yan Jing