I originally planned to have a friend in Shanghai collect the rent, convert the RMB into USD (using my friend’s annual foreign exchange allocation), and then deposit it in my HSBC multi-currency account as USD. I would use HSBC’s Global Link service to get the funds over to me. I did not anticipate that I would need to set up my friend as a designated authorized person to deposit into my account. and I can only do this in a branch in Shanghai. Whenever I next visit Shanghai, I will aim to do so.
I have heard of using crypto currencies to move funds over. The idea would be to buy it in China (which I haven’t done before) and almost simultaneously sell the amount in Taiwan. Around the time I first thought about doing this years ago, there was a crackdown in China on Bitcoin, but I wonder if times have changed and buying cryptos there is again more freely available.
I transfer money from my Bank of China account using PayPal. I signed up for a Chinese PayPal account, added my UnionPay card, and then I send money to my regular Paypal account. You lose quite a bit due to conversion fees but if you’ve already hit the 100,000 RMB yearly international withdrawal limit like me it is one of the only options.