Editor’s Note
China’s central bank is proposing a major overhaul of its anti-money laundering and counter-terrorism financing framework, aiming to bring key financial institutions under its direct supervision for the first time in over a decade. This move signals a significant step toward tightening regulatory oversight in the financial sector.
To further standardize anti-money laundering (AML) and counter-terrorism financing (CFT) supervision of financial institutions, the People’s Bank of China (PBOC) plans to revise regulatory rules that have been in effect for nearly 11 years. The revision will bring 27 institutions, including major banks, securities firms, insurance companies, financial infrastructure entities, and two major payment institutions, under the direct management of the PBOC’s head office. The draft also removes content related to AML assessment ratings and AML management information systems and their applications.
Recently, the PBOC released the “Notice on Matters Concerning the Implementation of the ‘Measures for the Supervision and Administration of Anti-Money Laundering and Counter-Terrorism Financing of Financial Institutions’ (Draft for Comments)” (hereinafter referred to as the “Draft for Comments”), soliciting public feedback. The deadline for submitting comments is July 30, 2025.