China starts overseas cash withdrawal laws. From 2003, the limit was set at 100,000 yuan per card, so those with several cards of different banks could get much higher amounts. The new Chinese law that limits overseas cash withdrawals with personal bank cards has entered into force, with the aim of curbing criminal activities such as money laundering, terrorist financing and tax evasion. From 2003, the limit was set at 100,000 yuan per card, so those with several cards of different banks could get much higher amounts. Official figures indicate that in 2016, of all bank cards used outside China to withdraw cash, 81 per cent were used to obtain a maximum of 30,000 yuan, so the authorities consider that the new limit will meet Chinese travellers' usual needs for cash.

Source: Stuff January 01, 2018 05:48 UTC