Job Discussion Forums

oprah · Joined: 26 Apr 2003 Posts: 382

I have spent one year trying to sort this out and still have not an answer. My school gives me a paper that says I can change 30 % of my RMB. I have received a copy of the act from a foreign teacher that states it is 70%. My school has gone to the government office twice and comes back with a paper that say 30% in this area of China. There are not teachers here that say they have even changed money let alone what percent. My school says give them an example of a teacher in this area who gets 70 percent so they can help me on this.. I can only change30% of my wages.. Any comments or contributions. I am leaving the country soon.

7969 · Joined: 26 Mar 2003 Posts: 5782 Location: Coastal Guangdong

just go and change it at the local bank. see if any questions are asked. i wouldnt waste time having anything to do with the school. i know you may not be going thru hong kong, but i changed about RMB12000 there last summer.

oprah · Joined: 26 Apr 2003 Posts: 382

I have been to the bank five times.they require all the documentation and are very strict with all the paperwork...and this is going to the bank outside of my smaller city to a major city..Hangzhou... They will only do what is on the paper from the government which says 30 per cent of wages, and they require contracts and 3 other documents...

millie · Joined: 29 Oct 2003 Posts: 413 Location: HK

Hello Oprah,

this had been written about a lot but if you have problems with BoC, simply change it on the grey-market.

You do it inside the bank where they pay the US$ into your a/c and you pay the RMB into theirs. Thus, no probems with fakes.

Given the wealth floating around in HZ, I am sure it is as about as easy as in SH.
Enlist your FAO if you need help.

M.

journeyeast · Posted: Fri Mar 11, 2005 6:20 pm Post subject:

School doesnt convert your cash buddy. The BANK does.. School needs to provide the legal employement documents to the bank that will allow you to convert your money to your currency.. If they direct deposit your money there is a way to automatcially do this.. Look into your Green Residence booklet if you are living in China legally, and you will find pages that will allow you to convert a percentage of your earnings to your currency..

Or if you are working on an L visa.. Go to the black market.. or use a exchange kiosk using your passport.. Its your only option..

Norman Bethune · Joined: 19 Apr 2004 Posts: 731

Yu · Joined: 06 Mar 2003 Posts: 1219 Location: Shanghai

Norman,
Your Math skills amaze me. How long did it take you to work that out. I guarentee it would have taken me longer than it would to organize my students into groups for a group activity.

Norman Bethune · Joined: 19 Apr 2004 Posts: 731

tarzaninchina · Joined: 16 Aug 2004 Posts: 348 Location: World

30% minimum

70% maximum

If the schools convert it for you, that's just nice. Otherwise, you gotta go to a bank, specifically a branch that has foreign currencies.

It's negotiable, yet both the min and max are applicable throughout China. No exceptions.

Should I start a consulting service for foreigners in China to give them the grounds for negotiations, visa regulations, teaching laws, termination, and arbitration? Sheesh, there seems to be one heck of a market, plus we're all supposedly rich foreigners right? Not to mention the fact I'd be a bit easier to trust no doubt...not having guanxi with the psb and all....

Take that for any Chinese FAO's or bosses monitoring my posts!