The People's Bank of China issued a management regulation on outbound personal property and selling foreign currency.

The new regulation will officially be implemented from December 1.

The regulation divides personal property into two categories: immigration and inheritance.

According to the regulation, the applicant's personal property should be legal. The immigrant and inheritor should apply in his place of residence. If the cash volume is less than 500,000 yuan (62,500 US dollars), the local administration have the rights to inspect and approve. If the cash volume exceeds 500,000 yuan (62,500 US dollars), final decision should be made only by the State Administration of Foreign Exchange.