Currency violations at customs on the rise
A growing number of people have been attempting to exit Shanghai without declaring that they are carrying more than the permitted amount of cash, according to Shanghai customs officials.
Since the beginning of this year, customs officials at Shanghai Pudong International Airport have encountered nine such cases, with the amount of money totalling 4.7 million yuan ($684,711). In each case, the passenger was attempting to leave the city. Japanese yen and the US dollar were the primary types of foreign currency involved, accounting for 78.18 percent of the total value.
On Jan 24, a Chinese who was scheduled to depart from Shanghai Pudong International Airport was detained after he was found to be carrying 10.6 million yen ($92,638) in his suitcase.
According to the regulations, travelers can only enter or exit the country carrying a maximum of 20,000 yuan in cash. Those entering the country in possession of foreign currency amounting to more than $5,000 are required to submit a written declaration to customs officials.
Meanwhile, those who are exiting the country with more than $5,000 have to procure a certificate from the banks and the administration of foreign exchange in order to get through customs.
The Shanghai Customs has suggested that individuals adhere to the regulations pertaining to the cash limits and utilize credit cards and other payment methods for large transactions overseas. Officials added that offenders are subjected to fines or administrative penalties, while more serious cases may even be considered smuggling.