As an American citizen it is extremely easy for you (or your parents) to initiate a transfer of USD out of a Chinese bank and to a US or other foreign bank. It’s true that you “have to have a reason” but in my experience (as a foreigner in China) it’s a trivial process. My bank app has an option roughly 外籍人境外转账 or something similar (foreign national transfer funds abroad) which can be selected as the “reason”. The only challenging part is exchanging funds from CNY to USD, but if the funds are already denominated in USD in the Chinese bank account, you can transfer them out directly to any major US bank. If you use a smaller bank in the US it may be more complex as you’ll need an intermediary bank.
rokilav t1_j6phess wrote
Reply to how could my parents withdraw USD out of a Chinese bank? by sixstalks
As an American citizen it is extremely easy for you (or your parents) to initiate a transfer of USD out of a Chinese bank and to a US or other foreign bank. It’s true that you “have to have a reason” but in my experience (as a foreigner in China) it’s a trivial process. My bank app has an option roughly 外籍人境外转账 or something similar (foreign national transfer funds abroad) which can be selected as the “reason”. The only challenging part is exchanging funds from CNY to USD, but if the funds are already denominated in USD in the Chinese bank account, you can transfer them out directly to any major US bank. If you use a smaller bank in the US it may be more complex as you’ll need an intermediary bank.