ID and Cash Limits for Buying Gold in China
Since 1 August 2025, gold and jewellery dealers in China must verify your ID and report the deal to the anti-money-laundering centre when you pay RMB 100,000 or more in cash, in one go or across one day. There is no legal cap on paying cash. When you sell gold for recycling (回收), shops increasingly register your ID card and pay only into an account in your own name, under police and industry rules rather than one national threshold.
Facts checked 31 October 2026 · Not financial, legal or tax advice
At a glance
| Situation | Rule | Notes |
|---|---|---|
| Buying | ID check when cash is RMB 100,000 or more in a single deal or in one day. | Also at any amount if the dealer suspects money laundering. |
| Paying cash | No legal cap. | Card, WeChat Pay and Alipay payments don't trigger the dealer's cash threshold. |
| Selling | ID card and payment to your own account are standard practice. | Shenzhen police set real-name registration from RMB 20,000 a day in 2024. |
| Reported | Dealer: cash of RMB 100,000+. Banks: cash of RMB 50,000+ (or US$10,000). | Dealers report within 5 working days; suspicious deals at any amount. |
The rules in detail
- The People's Bank of China's measures for precious-metal and gemstone businesses (《贵金属和宝石从业机构反洗钱和反恐怖融资管理办法》, 银发〔2025〕124号) took effect on 1 August 2025 under the revised Anti-Money Laundering Law. They cover dealers in gold, silver and other precious metals and in gems.
- For cash of RMB 100,000 or more (or the foreign-currency equivalent), single or added up over the day, the dealer must check your ID and record your name, contact details, and ID type, number and expiry date. Dealers may not serve anonymous customers or people using someone else's ID.
- The dealer sends a large-value transaction report to the China Anti-Money Laundering Monitoring and Analysis Center within five working days and keeps records for at least 10 years. Because daily totals count, splitting a cash purchase over the same day doesn't avoid the report.
- Banks separately report cash deposits and withdrawals of RMB 50,000 or more (or US$10,000) a day. Revised bank reporting measures took effect on 1 December 2025. New customer due-diligence rules from 1 January 2026 dropped a draft plan to make individuals explain the source of cash deposits or withdrawals over RMB 50,000.
- There is no general limit on paying cash in China.
When you sell
- Recycling shops record your ID card, the item (weight, purity, marks) and the price. The Shanghai Gold Jewelry Industry Association told members in February 2026 to copy sellers' ID, keep a ledger for two years and report suspicious sellers to the police. This is guidance, not law.
- Payment usually goes only to a WeChat, Alipay or bank account in the seller's own name.
- Shenzhen's Shuibei market police set real-name registration for gold deals of RMB 20,000+ a day in April 2024, with the bank-card name matching the ID card.
- A national standard for recycled gold (GB/T 47603-2026) takes effect on 1 December 2026.
Silver and travel
- Silver is a precious metal under the 2025 measures, so the same RMB 100,000 cash rule applies.
- Declare more than RMB 20,000 in yuan cash or US$5,000 in foreign cash when crossing the border.
Gold ID and Cash Limits in China: FAQ
Do I need ID to buy gold in China?
The law requires it when you pay RMB 100,000 or more in cash in one deal or one day, or if the dealer suspects money laundering. Card and mobile payments don't trigger this cash rule.
Do I need my ID card to sell gold in China?
In practice, yes. Recycling shops record your ID and pay into an account in your own name, following police notices, industry guidance and anti-money-laundering rules.
Is there a cash limit for buying gold in China?
No legal cap, but cash of RMB 100,000 or more triggers an ID check and a report by the dealer.
Sources (6)
- China News: PBOC measures for precious-metal and gemstone dealers (2025)
- Yicai Global: China tightens reporting rules for gold and jewellery retailers
- AIG China: AML brochure quoting large-value transaction thresholds (2026)
- NBD: customer due-diligence measures from 1 January 2026 drop RMB 50,000 cash rule
- Eastmoney: Shanghai gold jewellery association recycling guidance (February 2026)
- RFA: Shenzhen real-name registration for gold deals over RMB 20,000
General information for individuals buying or selling gold, checked October 2026. Rules change and dealers may ask for more than the legal minimum; check with the dealer or the regulator. Not legal advice.