An 11-year-old pupil carrying 140,000 yuan ($21,756) in cash in his schoolbag was spotted at a checkpoint on Chung Ying Street in Shenzhen on Jan 9, local media reported on Monday, citing the No 6 detachment of Guangdong border security forces of the People's Armed Police.

The pupil, accompanied by a middle-aged man, entered Chung Ying Street at 6:45 pm on Jan 9. Suspicion was aroused when guards at the checkpoint found the flustered pair appeared to be in a hurry and shunned eye contact, so they checked their belongings and discovered 140,000 yuan in banknotes.

The man confessed that he was the boy's father and put the money in his son's schoolbag. But he could not name the legal source of cash. At present, the case has been transferred to Sha Tau Kok customs for further processing.

China is a foreign exchange control country, and puts a limit on the amount of Chinese yuan, foreign currencies and securities carried by passengers crossing its borders, according to guards at the checkpoint.

For cash in Chinese yuan, inbound and outbound passengers are allowed less than 20,000 yuan. Passengers carrying cash worth more than 20,000 yuan must declare it in writing to customs.