Cross-border remittance of 5000 yuan requires identity verification, does not affect personal annual foreign exchange limit of 50,000 US dollars.

Recently, the People's Bank of China, the China Banking and Insurance Regulatory Commission, and the China Securities Regulatory Commission jointly issued the "Measures for Due Diligence Investigation of Financial Institutions' Customers and Management of Customers' Identity Information and Transaction Records," which clearly states that starting from January 1, 2026, for cross-border remittances, remittances of more than RMB 5000 or the equivalent of USD 1000 in foreign currency, the accuracy of the remitter's information must be verified. After the new regulations were issued, many people were concerned: does this mean that cross-border remittances will become more difficult? Will the annual purchase limit of 50,000 USD per person be affected? Several banking industry insiders have stated that the core of this regulation is "verification" rather than "restriction," aimed at preventing illegal fund flows, and will not hinder normal cross-border remittances. The policy of the annual convenience limit of 50,000 USD per person remains unchanged.