Should each person’s annual foreign exchange settlement and sales quota of US$50,000 be 50,000 separately or should the foreign exchange settlement and sales quota be 50,000 jointly?

The limit of US$50,000 per person per year is the total limit for foreign exchange settlement and sales, that is, regardless of foreign exchange settlement and sales, the total amount adds up to US$50,000.

According to Article 2 of the "Implementation Rules of Individual Foreign Exchange Administration Measures", annual total amount management is implemented for individual settlement of foreign exchange and domestic individual foreign exchange purchase. The annual total is equivalent to US$50,000 per person per year respectively. The State Administration of Foreign Exchange may adjust the annual total based on the balance of payments.

Foreign exchange settlement and purchase within the personal annual total shall be handled at the bank with the person's valid identity document; if the annual total is exceeded, the current account shall be subject to Articles 10, 11 and 12 of these Rules. The capital account items shall be handled in accordance with the relevant provisions of the "Individual Foreign Exchange Management under Capital Accounts" in these Detailed Rules.

Extended information:

Article 9 of the "Implementation Rules for Individual Foreign Exchange Management Measures" Operating foreign exchange receipts and payments under individual current accounts shall be handled in accordance with the following provisions:

(1) Individual foreign trade operators should handle foreign trade purchases, payments, receipts and settlements through their own foreign exchange settlement accounts; their foreign exchange receipts and payments, import and export write-offs, and balance of payments declarations are managed by institutions.

Individual foreign trade operators refer to those who have completed industrial and commercial registration or other practice procedures in accordance with the law, obtained an individual industrial and commercial business license or other practice certificates, and in accordance with the regulations of the commerce department of the State Council, completed registration and obtained the right to operate foreign trade. , individuals engaged in foreign trade activities.

(2) If an individual industrial and commercial household entrusts an enterprise with foreign trade rights to handle imports, the individual shall purchase foreign exchange based on the import agency contract or agreement signed with the agent enterprise, and the purchased foreign exchange shall be settled through his or her own foreign exchange account. The account is directly transferred to the agency company's current account foreign exchange account.

If an individual industrial and commercial household entrusts an enterprise with foreign trade rights to handle exports, it can collect and settle foreign exchange through its own foreign exchange settlement account. Foreign exchange settlement shall be handled based on the export agency contract or agreement signed with the agency enterprise and the export goods customs declaration form of the agency enterprise. After the agency company reports the individual industrial and commercial household's name, account number and other materials required for write-off to the local foreign exchange bureau, it can use the individual industrial and commercial household's account collection notice as the write-off voucher.

(3) Foreign exchange settlement under the overseas personal travel and shopping trade method shall be handled with the person’s valid identity document and personal travel and shopping customs declaration form.

Baidu Encyclopedia - Implementation Rules for Individual Foreign Exchange Management Measures