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[fullricebowl]

Remember- you can exchange around $5000USD worth of RMB if you have a Chinese friend who can do the exchange in their name. Although carrying cash can be a little nerve racking, I found it to be the easiest solution. Conversely, when I was in the US this fall, saw that Walmart now accepts UnionPay... so you could invest your salary in i-tunes gift cards or something..

[Escaped Lunatic]

It's been awhile since I checked on PayPal for something like this.  When I did, they required separate accounts for USA and China.  To move money from a Chinese PayPal account to the linked Chinese bank account cost $30.  It's possible that things have improved since then.

[DC@54055]

Keeping along with the Title of this post by OP...

What is the power of the Residence Permit? Are there a list of rights and abilities that I have now that I have a residence permit. I've been told by my schools director that I am afforded all the rights of a citizen..except the right of becoming a full citizen 

Here's some questions to give it a little direction:

Can I kill Chinese people?  Sorry just had to ask
Can I get involved in any Chinese investment's like Chinese versions of CD's, IRA ect.,
Is there anything worth noting that I can take part in regarding politics?
It sounds like with a Residence Permit that I can leave China and go to __(insert places name) then come back w/o a problem.

Is there anything else notable? 

[KeyserSoze]

Hey DC here's my thoughts:

1] No (I think you're joking but I'm studying accounting at the moment thus I have nothing clever to say. That's my excuse.) Technically yes, but the authorities would eventually shoot you in the head after pretending to arrange for a trial. It's more likely that you will simply disappear. Just my opinion.
 
2] Yes, CDs (time deposits) but Chinese IRAs? No. We are not citizens, we're visitors. we cannot invest in the Shanghai and Guangdong markets. We may invest in the Hong Kong Stock Exchange but only through H shares. Please if anyone knows how to actually set up a HKSEx trading account without huge bribes please let me know. We are clearly not citizens.

3] Politics? Huh? Really? Why? Sounds like opening a box of rattlesnakes and scorpions in a small, locked room. Why?
 
4] Yes, emphatically yes.
 

[BrandeX]

Your "residence permit" is actually a "Temporary residence permit" and essentially a glorified tourist visa (which it looks identical to in your passport). A real "Residence permit" is a plastic ID card similar to Chinese citizens, and is good for 10 years. It is equivalent to a "green card" and gives you essentially all the rights and responsibilities of a true citizen. Very few people have one of those.