Quote:
Originally Posted by ProfessorPain
Are there restrictions on foreigners buying RMB in China? Are there restrictions on taking large amounts of it out of the country? Are there any interest barring RMB bank accounts/CDs/Bonds/etc available to foreigners in China?
Is it easy to buy RMB in HK/Macau?
My knowledge on the China side is limited but I do know Chinese citizens are only allowed to take RMB10,000 out of the country. That is why there is a highly evolved system in place to help fund gamblers once they get to Macau, although I won't detail it ITT.
You can certainly buy RMB in China although I don't know what the restrictions are for foreigners, if any. Many ATM's in Macau issue RMB and it won't be a problem to get at banks either. I do know that if you want to exchange your RMB back to foreign currency in China you need a receipt showing how much foreign currency you sold when you entered. In Macau none of that rigmarole is necessary but you should check first if it is a straight exchange or if you need to exchange RMB-> HKD->XXX.
There are virtually no interest bearing bank accounts in Macau or HK as far as I am aware, not sure on the situation in China but I imagine it is similar. That is one of the reasons there is such an active stock market.