Hi! It's great to find a promising China Teacher/Expat community website. I hope it grows!

Recently I have been trying - fruitlessly - to legally exchange my English-teaching salary at the Bank of China. I know I could do it illegally but there are not many black-market currency traders in my city and after all my efforts I want to do it out of principle now!

I have established that I need at least one form or certificate which I assume will need to be authorised by my college. Does anyone know the official name of this form? In fact, does anyone know anything that may help me!!!! Please!!!!

I wish I hadn't spent so much at uni!

Thanks

I think the certificate you need is the Foreign Experts Certificate, it has a page for noting currency exchanges as you are only allowed to convert a certain percentage in most cases.

When I wanted to change currency and transfer it to a foreign (in this case Australian, but I doubt it matters) account, the easiest way was for me to give the cash to a Chinese co-worker as I think the rules and tax are easier than it is for us. Another fact that made it run smoothly; well, relatively, was that I did not take any physical currency. I think this would be a better way to go if possible as China has been buying foreign debt over time and are reluctant to have physical currency leave the country.

As with most things here, it seems the golden rule is to find a local able to help you. In this case it needs to be someone you trust, and vice versa, as it will take a few days for the transfer to e completed.

Brendan

Thanks Brendan
My boss has been keeping my Foreign Expert Certificate since I have been here so I havn't had the chance to check it. I'll ask to to have it and hopefully it will all go smoothly as it did for you. I'll let you know what happens. I've been trying for four months now!!!!!!

Eek, as a general practice, I would suggest never letting your boss keep your Foreign Expert Certificate.

However, I'm not certain that is actually the "certificate" they are looking for. I believe you require what essentially amounts to a receipt for the amount you've earned. If everything with your work is legit, they'll be able to produce this for you without too much hassle. If they've fudged your visa (got you an F not the proper Z) and are technically having you work "under the table" and in tern are avoiding paying tax on your earnings, this might not be possible to get.

Either way - like most things in this country - it's just easier (and often expected) that you'll just go around the "system". Like Brendan said, try to find a local that can help ya, or just hunt down a black market currency trader.

Re-reading your OP, i'm not 100% though what you're trying to do. Are you trying to switch GBP or USD into CNY? or CNY into a foreign currency?

BTW: Good to have ya on here - and yeah, I hope it grows too If slow and steady wins the race, we're up by aces.

Thank you all for your help.
My girlfriend and I were a bit naive to the situation when we arrived here but are now learning fast. I hope this website can grow to help others like ourselves. I especially think that the wikis will be a good source of practical and procedural information. I'll try my best to contribute.

Tim, Leshan, Sichuan.

After many visits to the bank and your help on this forum i eventually discovered that to exchange up to 70% of your salary as a Foreign Expert (English teacher!) in China you need to have:

1 - Your Foreign Expert Certificate, fully completed and stamped.
2 - Proof that you are up-to-date with your income tax payments.
3 - Identification: passport with residency permit etc.
4 - A big pile of RMB and incredible patience.

I tried and failed to get the proof of my tax status from the local tax office - especially frustrating because I don't think I have been earning enough to pay income tax. In the end my boss persuaded me to just let him exchange it for me. I tried to be a good boy ... but failed.

I would like to put this information on the Lost Laowai wiki. Any ideas when it will be operational?

PS Could anyone confirm the accuracy of these details?