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The State Administration of Foreign Exchange (SAFE) of China announced Wednesday that starting from July 1, people touring overseas should buy their foreign exchange themselves from banks.
Currently China's travel agencies buy foreign exchange for tourists.
According to the announcement, travel agencies will no longer buy foreign exchange for tourists, and before starting their trip, tourists should take relevant certificates to buy foreign currencies from certified banks.
A SAFE spokesman said that the change aimed to standardize forex-related activities in the overseas tourism market and protect tourists' legal rights and interests. The readjustment involved only the buyers and buying procedures, with the basic policies and principles governing forex supply for overseas tourism remaining unchanged.
(Xinhua News Agency June 26, 2002)
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