According to the Administrative Rules of the People's Republic
of China on Cross-Border Transportation of National Currency issued
by China's central bank in December 2004, travelers are allowed to
take up to US$5,000 equivalent of foreign currency and 20,000 yuan
of local currency (US$1=7.7 yuan) into or out of the country.
There is no need to declare this to customs if the currency you
carry is less than the limit.
Amounts up to US$10,000 will require a Permit for Taking Foreign
Currency Out of the Customs Territory issued by a bank. Anyone who
takes more foreign currency than US$10,000 is required to show a
legal warrant issued by agencies of the State Administration of
?Foreign Exchange (SAFE)
For travelers who leave the country a second time within 15
days, the limit of foreign currency is US$1,000. If you leave the
country a second time on the same day, the limit is US$500. If you
have a declaration record of foreign currency when entering the
country, customs will examine this before authorizing you to
pass.
It is quite easy to exchange your currency into CNY, Chinese
yuan, at your arrival airport, as well as hotels and banks in
China, so it is not really necessary to bring Chinese currency to
China.
(China.org.cn March 23, 2007)