The People's Bank of China issued an announcement on September 30, 20 13, soliciting public opinions on the Measures for the Administration of Import and Export of Gold Products. According to the opinion draft, individuals who carry gold and gold products for their own use into and out of the country and weigh less than 200 grams are exempt from customs declaration and tax payment.

On the same day and in a short period of time, if many inbound and outbound passengers bring gold and gold products, or individuals bring gold and gold products into and out of the country temporarily, it shall be handled in accordance with relevant customs regulations.

The opinion draft stipulates that individuals who carry gold and gold products for their own use into or out of the country and weigh more than 200 grams should take the initiative to declare to the customs and go through tax payment and customs clearance procedures with the Import and Export License for Personal Carrying Gold and Gold Products issued by the People's Bank of China and its branches.

Extended information Measures for the Administration of Import and Export of Gold and Gold Products:

Fifteenth municipal branches of the People's Bank of China shall, within 20 working days from the date of accepting the application for import and export of gold products, directly submit the preliminary examination opinions and all application materials to the higher authorities. The institution at the next higher level shall make an administrative licensing decision within 20 working days after receiving the preliminary examination opinions and all the application materials.

China People's Bank Shanghai Headquarters, branches, business management departments, provincial capital city sub-branches and Shenzhen central sub-branches directly accept applications for import and export of gold products, and make administrative licensing decisions within 20 working days from the date of acceptance.

Article 16 Where it is necessary to verify the substance of the application materials, the People's Bank of China and its branches may verify the applicant, and the verification shall be conducted by two or more staff members.

Article 17 When handling the import and export of gold and gold products, the licensee shall go through the relevant formalities with the customs on the strength of the import and export license of gold and gold products of the People's Bank of China.

The Import and Export License for Gold and Gold Products of the People's Bank of China was issued in batches, and it was used up within 40 working days from the date of issuance. If the licensee needs an extension for justified reasons, it may apply to the license issuing agency for an extension with the original certificate five working days before the expiration of the validity period of the certificate.

People's Daily Online-Central Bank: Individuals who bring more than 200 grams of gold into or out of the country need to declare taxes.