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PBOC Increases Limits for Macao Residents Remitting to Mainland Accounts

The daily remittance limit for individual Macao residents to same-name accounts in mainland China has been raised from RMB50,000 to RMB80,000, and mainland banks will now process remittance payments in accordance with relevant regulations. Unused inward remittance in renminbi may be remitted back to Macao upon verification. 

Full details can be found in Announcement No. 29 [2019] issued recently by the People’s Bank of China.

Source: People’s Bank of China

Content provided by Picture: HKTDC Research
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