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Customs steps up checks over illicit yuan inflows

SHENZHEN Customs confirmed yesterday it has stepped up inspections at the city's checkpoints as more people are bringing large amounts of yuan across the border to profit from the rising yuan and higher interest rates.

On Tuesday, instead of doing spot checks as usual, customs officers required all inbound travelers at the Luohu and Futian checkpoints to have their luggage to be scanned in order to prevent them from importing more than 20,000 yuan (US$2,864) in cash. According to mainland regulations, incoming travelers are allowed to bring a maximum of 20,000 yuan in cash at a time.

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