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new int’l routes to malaysia, korea, and japan!

yesterday, shenzhen airlines held a press conference and introduced three upcoming international routes. besides, a new air route will be launched between chongqing and japan. let’s check!

according to the reports, shenzhen airlines will open three direct flights to penang in malaysia, jeju island in south korea and fukuoka in japan.

to penang

flight zh8003 to penang will operate every monday, wednesday, friday and saturday starting wednesday, dec 18.

it leaves shenzhen at 1:30 p.m. and arrives in penang at 5:05 p.m. the return flight, zh8004, leaves at 6:05 p.m. and arrives in shenzhen at 10:10 p.m.

to jeju island

flight zh9041 to jeju island will operate every tuesday, thursday and sunday starting sunday, dec 15.

it leaves shenzhen at 2:25 p.m. and arrives in jeju at 6:35 p.m. the return flight, zh9042, leaves at 7:25 p.m. and arrives in shenzhen at 10:10 p.m.

to fukuoka

the flights to fukuoka will operate every monday, tuesday, thursday and saturday. they will start operation april 11, 2020.

on mondays and thursdays, flight zh8071 to fukuoka leaves at 12:05 p.m. the flights on tuesdays and saturdays leave at 11:15 a.m.

to okinawa

the route between southwest china’s chongqing municipality and japan’s okinawa will be launched on dec 27, and operated by air china with round-trip flights every wednesday, friday and sunday.

the outbound flight leaves chongqing at 12:35 p.m. beijing time. the return flight departs okinawa at 6:35 p.m. local time.

the tickets for the three sz international flights have been made available for sale as reported.

during the initial promotion period, the fares for round trips of some of the flights between shenzhen and penang will be as low as 100 yuan (fees and taxes not included).

the fares for round trips between shenzhen and fukuoka are as low as 850 yuan.

the airline also introduced early bird tickets for trips between shenzhen and london.

the lowest fares for round trips between shenzhen and london are 1,280 yuan, 1,780 yuan and 12,500 yuan for economy, premium ecnonmy and business classes, respectively.

new int'l routes to malaysia, korea, and japan!

on dec 17, hacos will hold a seminar to introduce you two new ways to collect and settle fx. please contact lucy to know more info and get free ticket!

first come, first served due to the limited quantities available. regular price of the ticket is 199 yuan.

share to let your friends know!

source | shenzhen daily / shenzhen airlines / xinhua

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fined for foreign cash withdrawals! what‘s wrong?

china has no limit on the annual amount of foreign cash withdrawal for individuals, but there are some rules and restrictions. you may be fined rmb50,000 if violating them.

question: is that legal to withdraw $10,000 five times from the same savings account?

let’s do a math first. it is $50,000 in total, not exceeding the annual quota of personal exchange sales for individuals.

that’s legal, i think.

however, my answer is wrong.

case study

recently a branch of bank of china (boc) was given a warning and imposed a fine of 40,000 yuan because a man called geng has withdrawn $10,000 five times within 7 days from the same saving accounts.

according to the state administration of foreign exchange, geng’s act has violated article 7 of the measures for the administration on individual foreign exchange.

fined for foreign cash withdrawals! what‘s wrong?

all banks and individuals shall comply with the related provisions of the present measures in dealing with individual foreign exchange businesses, and may not evade quota supervision through method of splitting or evade authenticity control by means of using false business papers or vouchers.

in other words, geng’s act was considered as a method of splitting to evade quota supervision.

related provisions

safe has released the circular of the safe concerning further improving administration of the foreign exchange settlement and sale business for individuals, characterizing individual settlement and sales of foreign exchange through splitting:

one individual/organization outside the territory of china remits foreign exchange to 5 or more different individuals on the same day/every other day/or on successive days, and these payees separately carry out the exchange settlement.
five or more different individuals remit foreign exchange to the same individual/organization outside the territory of china after separately purchasing foreign exchange on the same day/every other day/or on successive days.
five or more different individuals deposit/remit rmb funds into the rmb account of the same individual/organization after separately settling the exchange on the same day/every other day/or on successive days.
an individual withdraws foreign currency notes close to an equivalent of usd10,000 five or more times within 7 days from the same foreign exchange savings account; or five or more individuals jointly settling the exchange of foreign currency notes on the same day at the same bank outlet with each individual settling the equivalent of close to usd5,000.
the same individual transfers deposits from his/her foreign exchange savings account to more five or more direct relatives who then complete the exchange settlement within the limit on the annual aggregate amount; or five or more direct relatives of the same individual transfer foreign exchange purchased within the limit on the annual aggregate amount to his/her foreign exchange savings account.
other acts by which individuals complete exchange settlement and sale by splitting many times through the agency of many persons for the purpose of evading administration of the limitation.

apparently, geng complies with the provisions of the circular.

what’s more, the circular stipulates that if the applicants fail to submit the relevant certifications, the banks shall reject the applications.

therefore, the bank has to bear responsibility and to be punished.

legal or illegal?

back to the question, the answer depends on the situation. because people can still withdraw or purchase more than usd50,000.

fined for foreign cash withdrawals! what‘s wrong?

when the total sum of the withdrawals has not exceeded the equivalent of usd5,000, the business shall be settled at the bank directly; when the total sum exceeds it, the business shall be settled at the bank by presenting the valid identity certificate.

on dec 17, hacos will hold a seminar to introduce you two new ways to collect and settle fx. please contact lucy to know more info and get free ticket!

first come, first served due to the limited quantities available. regular price of the ticket is 199 yuan.

share to let your friends know!

source | bj news / safe

**👇these articles may help you**

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