PBC to Implement the Measures for the Supervision and Administration of Anti-Money Laundering and Counter-Terrorism Financing by Financial Institutions

The People's Bank of China (PBC) recently revised and formed the Circular on Relevant Matters Concerning the Implementation of the Measures for the Supervision and Administration of Anti-Money Laundering and Counter-Terrorism Financing by Financial Institutions (Draft for Comment) (the "Draft") to solicit public opinions by July 30, 2025.

The Draft mainly proposes the following revisions: (1) clarifying the division of regulatory duties for corporate financial institutions and refining the anti-money laundering (AML) regulatory requirements for non-corporate financial institutions; (2) improving risk-based AML regulatory requirements; (3) adjusting the AML information reporting obligations for financial institutions; and (4) introducing other revisions. Notably, the Draft details the types of major risk events to be reported as required in the Measures for the Supervision and Administration of Anti-Money Laundering and Counter-Terrorism Financing by Financial Institutions. It also refines the main content and timeline requirements for the annual work report, simplifies its format, and removes relevant appendices.



(Source: http://www.pbc.gov.cn/tiaofasi/144941/144979/3941920/5784688/index.html)

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