Dave
- 2010-06-01
Hi Deborah,
Thanks for your response. Yes there is a 70% foreign currency conversion clause in my contract but my employer's FAO is one of those who sits on top of his ivory tower and avoids getting his hands dirty as far as he possibly can - in other words - useless! Here, one has to do that stuff solo or wait ages for them to get around to it.
Since posting that request, I have in fact resolved the issue with a more senior (and sensible) person within the Bank of China and it will be dealt with this week. All being well, this will end the matter most favourably.
Thanks anyway for your advice.
Dave
Deborah
- 2010-05-31
Check your contract to see if it has a clause pertaining to currency conversion of RMB to foreign currency. Then ask your FAO to assist you in this matter. He should know the regulations. If he doesn't, he can find out on your behalf. Then you and he can go to the bank together to deal with the matter.
In some provincial capitals, there are black marketeers hanging around outside the branch that is frequented by foreign tourists. Probably they are also operating in the capital and in municipalities too. They are usually standing next to their motorcycles in the bank car park. Walk near them, and they'll address you. Not that I've ever used them, but it's an option if all else fails!
Without going into irrelevant detail, I need to know what the regulations are regarding the exchange of RMB in one's Bank of China account to US$ cash. The Bank of China is generally very toytown when it comes to anything even remotely out of the ordinary. Each individual in any branch either has their own view of how things can be done or if they don't know, they will save face by saying it cannot be done at all, even when it can. In short there are occasions where they are not to be trusted to do things properly.
Dave