Visitors entering China's Macao Special Administrative Region (SAR) must declare cash amounts of 120,000 patacas (about 15,000 U.S. dollars) or above, the authorities said in a statement on Tuesday.
Starting from Wednesday, visitors arriving in Macao SAR with 120,000 patacas or above in cash (or the equivalent in other currencies), or with bearer negotiable instruments, such as traveller's cheques, cheques, draft, payment orders and promissory notes, must fill in a declaration form and use the "red channel" at the customs.
The purpose is to combat money laundering and terrorist financing, so as to ensure the security and stability of Macao SAR's economic system, the authorities said.
Visitors departing from the SAR with 120,000 patacas or above (or the equivalent in other currencies) are also required to make a declaration, or they will be fined, the statement added.
