To clamp down on money laundering
China tightens rules on oversea cash withdrawals
The annual limit will be set at 100,000 yuan ($15,355) per person.
Beijing - Egypt Today
China has tightened rules on how much cash cardholders can withdraw overseas in a bid to clamp down on money laundering, terrorist financing and tax evasion, authorities said Saturday.
The annual limit will be set at 100,000 yuan ($15,355) per person from Monday -- no matter how many cards a person has.
Currently, there is an annual ATM cap of 100,000 yuan for each separate card, but there is nothing to stop users withdrawing many times this amount using multiple cards.
The new rules will "prevent law breakers from withdrawing a large amount of cash with different cards from different banks," the State Administration of Foreign Exchange said according to state news agency Xinhua.
Anyone exceeding the limit will be barred from withdrawing cash overseas for the remainder of the year and the following year.
The move comes as China has struggled with capital flight and tightened capital controls this year to stem the outflow of money.
Source:AFP
- Monday ,19 November GMT 16:48 2018 Russia, Turkey will reach $100 bln worth of trade turnover, says Putin
- Sunday ,28 October GMT 13:33 2018 Investcorp hosts Strategic Partners Conference over 130 of its key partners in Paris
- Tuesday ,11 September GMT 13:34 2018 Trade turnover between Russia and China to grow to $100 bln in 2018 — Putin
GMT 16:48 2018 Monday ,19 November
Russia, Turkey will reach $100 bln worth of trade turnover, says PutinGMT 13:33 2018 Sunday ,28 October
Investcorp hosts Strategic Partners Conference over 130 of its key partners in ParisGMT 13:34 2018 Tuesday ,11 September
Trade turnover between Russia and China to grow to $100 bln in 2018 — PutinGMT 09:36 2018 Wednesday ,24 January
Trump angers China, South Korea with new trade tariffsGMT 06:49 2017 Wednesday ,13 December
Riyadh, Beijing Launch Digital Silk Road InitiativeRussia tests new telemetry system during manned Soyuz MS-11 spacecraft’s launch
Moscow - TASS
The Astra-06 apparatus developed by specialists of Russian Space Systems (RSS) was used for the first time as additional telemetric equipment aboard the manned Soyuz MS-11 spacecraft launc...Read More
GMT 11:24 2018 Friday ,14 December
Turkey will enter Syria’s Manbij if US doesn’t remove YPG fighters
GMT 14:19 2017 Friday ,13 January
French, US astronauts start power upgrade spacewalk
GMT 14:41 2017 Wednesday ,04 January
Impressive Stan Wawrinka moves into quarters
GMT 12:59 2017 Wednesday ,05 April
Time to end Assad’s WMD
GMT 17:10 2017 Tuesday ,31 October
Samsung Electronics posts record Q3 profits, replaces CEOs
GMT 04:29 2017 Monday ,20 February
Samsung Group, pension fund offices raided in growing South Korea scandal
GMT 13:47 2017 Thursday ,27 July
Gov. keen on finishing ongoing projects: PM
GMT 13:26 2017 Sunday ,08 October
Nate downgraded to tropical storm as it lashes US Gulf Coast
GMT 17:59 2016 Friday ,24 June
Software developers ‘should seek growth in cars, global services’
GMT 12:02 2018 Sunday ,25 November
The Arab project gives wings to bright ideas
GMT 14:01 2018 Wednesday ,17 October
Russia to deliver 3D-bioprinter to orbital outpost in next space launch
GMT 08:58 2018 Thursday ,11 October
AGU participates in international sociology conference
GMT 16:14 2016 Sunday ,15 May
Trade set to resume at main Tunisia-Libya crossing
GMT 09:42 2018 Friday ,21 September
World stocks hit new highs as trade worries ease, dollar slips
GMT 09:52 2018 Friday ,21 September
Coalition of Supporting Legitimacy in Yemen Raid Kill elements of Houthi militia in Sana'a and Al-Biadah
GMT 11:33 2018 Tuesday ,11 September
Nawaz Sharif's wife Kulsoom passes away after prolonged illness
GMT 01:32 2016 Wednesday ,21 December
China returns seized submarine drone to USGMT 09:14 2012 Thursday ,25 October
Ahmad Sharif retires for religious reasons
GMT 19:10 2016 Sunday ,11 September
Interior minister checks on security in Cairo, Giza governorates
GMT 18:17 2016 Monday ,08 August
UN Welcomes South Sudan's Acceptance of Regional Protection Force
GMT 09:28 2011 Friday ,01 July
AIG\'s oversight period extended again
GMT 16:40 2015 Friday ,13 March
Kerry: Sisi deserves enormous credit for reforming the business environment
GMT 00:29 2016 Sunday ,25 December
Damietta Port receives 8 vessels
GMT 18:18 2016 Wednesday ,17 August
Tunisian, Canadian Foreign Ministers Discuss Bilateral Ties
GMT 13:21 2017 Wednesday ,12 April
As NATO moves in troops, reforms hit Poland's military hard
GMT 13:55 2016 Friday ,28 October
Global migrant deaths up 20%
GMT 20:55 2017 Thursday ,29 June
HM King directs official follow up of Bahraini family in SpainGMT 04:22 2013 Wednesday ,05 June
Najwan Darwish on PalFest and his first volume of poetry
GMT 12:17 2015 Thursday ,23 April
UK regulator fines Deutsche Bank $340m over Libor
GMT 08:00 2016 Sunday ,20 November
White House warns Syria, Russia on 'heinous' bombings in AleppoGMT 13:52 2012 Monday ,27 February
Jimmy’s Killer restaurant in Abu Dhabi
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor