Bitcoin Forum

Suppose I fly to China tomorrow and bring some bitcoins with me. Is anybody interested in establishing a business relationship?

I would buy the coins here in Europe, fly to Shanghai or Beijing, exchange them to Cash (EUROS) and fly back.

Are there any limitations on carrying cash on flights between China and Europe?

If your are interested, please make me an offer!

I live in Europe and I am Chinese.
I tell you what will be the first problem you will meet after you are in China.

"Foreign exchange controls"

http://baike.baidu.com/view/433566.htm
(open your google translate)

So in principle if you want bring more than 5000 USD or equivalent EUR cash out from China.
You need report it to Chinese customs.
If less than 10k more than 5k USD you need permit from "Sate Administration of Foreign Exchange".
(There is English section under http://www.safe.gov.cn/)
Nobody knows how can you get a permit from SAFE even for a legit business in China.You can try to tell them you are trading BTC (just kidding).

If you didn't report it in airport and their x-ray find you, then you have to explain and hope they accept your story.
Sure China is a country where everything is possible but then you need try your luck and figure out how everything become possible.

Even you are a foreigner who lives in China when you go to convert your CNY to EUR in bank they want see your income certificate to make sure you don't convert more money than you earned.
In fact even some foreign companies has trouble to send their profit out of China.

Why China makes it so difficult to transfer foreign currency out? I don't know maybe the 3.3 trillion foreign exchange reserves isn't enough for our government.

So you can't just wire money out of China to Europe or America?

what about a card of citic bank?

好嘛，以后走私多了个品种了：比特币

Yes,you can do it and carry EUR or USD by this way, under china's fx control regulations:

buy cheap btcs in your country and fly to china.

find one Chinese  "establishing a business relationship"

and sell btc in chinese exchange btc/cny. get CNY and withdraw to HIS(chinese people's) CNY BANK ACCOUNT. in china's law, CNY BANK ACCOUNT it  only for chinese people.

and he(chinese) can buy CHANGE CNY TO USD no more than 50000/YEAR, and send them aboard legally

so, you sell btc in china's exchange, find someone in china and use his CNY account, exchange to USD/EUR and send to your account in your country.

if btc in mt or bitstamp is  USD 500 (as CNY 3000), in china btc is CNY 4000,  you can got CNY 1000 profit( less than 200USD）

maybe I  can do this, but how much profit you can give me?

and I may use several CHINESE IDs to carry foreign exchanges out, but no more than $100000 because I used some fx quotas to buy US stocks this year!

And another problem:

It is very very slow to withdraw in Chinese BTC exchanges, because:

They are all illegal under finance service laws. because no one exchange in china have finance licence, and they can not use their  corporate account to do deposit and withdraw operation.

so, they use some individual accounts....  So it cannot be done automatically, and staffs have to do this in individual account  one by one... So the withdraw is very very slow..

may take more than 24hrs ..

Can you wait?

as i know should be allow for carry cash of USD5000 or equivalent other currency..

It's good idea! I am in Shenzhen, and I may help you.

good luck for you

Smuggling BTC?  ;D ;D ;D

good！I I'm looking for some one  like you，I have a better idea of this business.contact me！my email:  inexun@163.com

I invite you all, easier option of buying Bitcoins profitable by 10-15% than BTCChina. You can buy them from me paid cards Visa, Mastercard or Paypal. I want a long-term cooperation with you, you can buy a few small parts for verification. If you like this then write to me on Skype. My nickname nicebtctrade