Can I use U.S. dollars to buy things in my country?
According to the relevant laws of our country It stipulates that the circulation of foreign currencies is prohibited within the territory of the People's Republic of my country, and foreign currency pricing and settlement are not allowed, unless otherwise provided by the state. Therefore, if the state provides otherwise, you can use U.S. dollars to buy things.
"Regulations of the People's Republic of China on Foreign Exchange Administration"
Article 8 Prohibited within the territory of the People's Republic of China Foreign currencies are in circulation and settlement in foreign currencies is not allowed, unless otherwise stipulated by the state.
Article 9 The Foreign exchange earnings of domestic institutions and domestic individuals may be repatriated within the country or deposited overseas; the conditions and periods for repatriation or deposit overseas shall be determined by the State Council The foreign exchange management department shall make regulations based on the balance of payments situation and the needs of foreign exchange management.
What are the main contents of foreign exchange control
(1) Control of foreign exchange earnings from exports
Countries that implement relatively strict foreign exchange controls have Foreign exchange generally stipulates that exporters must settle and sell their foreign exchange earnings to a bank designated by the state, which means that exporters must declare the export price, currency used for settlement, payment method and term, etc. to the foreign exchange management agency. After receiving the export payment, you must declare to the foreign exchange management agency, and settle and sell all or part of the foreign exchange to a designated foreign exchange bank according to the official exchange rate and management regulations.
In addition, in order to encourage exports, many countries have implemented export tax rebates, export credits and other measures, which have a significant impact on some domestically needed products, insufficient supply, or on the national economy and people's livelihood. The export of commodities, technologies and strategic materials must be restricted, and an export license system is usually implemented.
(2) Control of foreign exchange payments for imports
Countries that implement strict foreign exchange controls generally adopt the following measures in order to restrict the import of certain commodities and reduce foreign exchange expenditures: ：
Import deposit prepayment system: It means that when importing a certain commodity, the importer should predeposit a certain amount of import payment to a designated bank without the bank paying interest. , the amount is determined according to a certain proportion according to the category of imported goods or the country to which they belong.
Import license system: It means that the importer can only obtain an import license issued by the relevant authorities. Only with a license can you purchase the foreign exchange required for import. The issuance of an import license usually takes into account the import quantity, the structure of the imported goods, the country of production of the imported goods, import payment conditions, etc.
(3) Control of non-trade foreign exchange
The general methods used to manage non-trade foreign exchange are: direct restrictions, maximum quotas, and registration systems , special approval.
(4) Control of capital output and input
Capital projects are An important part of the international balance of payments, both developed and developing countries attach great importance to the export and import of capital, and implement different levels of management of capital export and import according to different needs.
The above knowledge is the editor's answer to relevant legal issues. According to the relevant laws of our country, the circulation of foreign currencies is prohibited in the People's Republic of my country, and settlement in foreign currencies is not allowed, unless otherwise stipulated by the state. Therefore, if the country has other regulations, you can use US dollars to buy things. If you need legal help, you are welcome to go to the Legal Savior Network for legal consultation.
