Wire Transfer Large Amount of Money to China

I am planning to wire transfer large amount of money ( > $100,000 ) from US to my parents in China. Any potential problems I may run into? Of course this is all hard earned money, so no money laundering here. My concern is: 1. Do I need to pay taxes on this money in US? 2. Does China allow this amount to be withdrawn from my parents account? Is there a limit on how much money I can transfer?

I am doing so to take advantage of potential appreciation of RMB and maybe buy a house in China.