Like Tree87Likes

Visiting Hong Kong/Shenzhen

Reply
Page 1 of 12 1 2 3 4 9 ... LastLast
  1. #1

    Visiting Hong Kong/Shenzhen

    Hello everyone,
    I will be visiting Hong Kong next month, I plan to visit Shenzhen to stock up on electronics to supply a store I have, I will be traveling with a sizeable amount of money.

    My question is what is the safest/most responsible way to do this?
    If I come with $25,000 USD, when/where should I convert it to Chinese Yuan before heading over to Shenzhen?

    Last edited by GlobalExport; 22-03-2014 at 12:04 AM.

  2. #2

    Join Date
    Jan 2012
    Posts
    383

    Why not just exchange it before you come so you don't need to bother when you arrive in HK?


    Sent from my iPhone using GeoClicks


  3. #3

    The main reason why I don't want to convert before hand is because I still don't know whether I will supplying my store from a Hong Kong based supplier or a Shenzhen based supplier. If I find a good deal in Hong Kong but have already converted all my funds to Yuan I will take a loss converting it to HKD, and vice versa.


  4. #4

    Join Date
    May 2005
    Location
    Hong Kong, from UK
    Posts
    3,704

    You cannot (legally) carry anything like that much cash into China without declaring it at customs - which may be a rubber-stamp operation, or may end up being something more serious...


  5. #5

    Really? Please explain what you mean by it becoming a serious issue if declared.

    How does one looking to make a serious purchase in Shenzhen bring in the funds?

    Do Shenzhen merchants(SEG Plaza cheap electronics) salesmen take HKD or USD?


  6. #6

    Thanks to all who've taken their time to share their expertise on the matter, the issue of currency exchange and customs can be overwhelming to a first time traveller to that region.


  7. #7

    Join Date
    Jan 2012
    Posts
    383

    My guess would be that these places would accept credit cards.

    I think the limit is something like $10,000USD before you have to declare it with China. That's what my dad told me 2 years ago when he last went so not sure how accurate that is. No idea what happens if you bring in more, declare and what not


    Sent from my iPhone using GeoClicks


  8. #8

    My bank (US based bank) advised me not to make any purchases overseas with debit or credit card. They also went on to inform me to use my debit card only at ATMs for small cash withdrawals.

    It appears I will have to fly into Hong Kong with the sizable amount of cash and then figure out the how to exactly enter China with it.


  9. #9

    What about travelers checks? Will electronics retailers at SEG plaza accept travelers checks?


  10. #10

    Join Date
    Jan 2012
    Posts
    383

    Sounds ridiculous. It's not like HK is some 3rd world country or somewhere where using your ATM card is super sketchy.... like in Mexico.


    Sent from my iPhone using GeoClicks


Reply
Page 1 of 12 1 2 3 4 9 ... LastLast