You can also pay to a domestic Alipay account using Hong Kong Alipay, or use the built-in wire transfer function in Alipay.
Recently, I've heard some things happening to friends again,
reminding everyone to try not to transfer overseas funds directly back to China.
I know many bloggers teach how to use functions like Wise, Panda Remit, and bank cross-border transfers to bring overseas funds back to China,
but this kind of "foreign exchange settlement and sales behavior" when repatriating funds is very likely to trigger scrutiny.
If the money you earned is from trading cryptocurrencies or US stocks, and you cannot provide legal proof of overseas work income,
using these channels mentioned above to transfer money back to China is essentially digging a pit for the future.
At the beginning, it may seem like your account is fine after transferring money back, but in reality, you have already entered the field of vision of tax inspection.
Many people have been targeted by CRS and notified to pay back taxes
precisely because they have a record of transferring funds back to China, which led to them being prioritized for investigation by the tax authorities.
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