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PBOC: Cash Purchases of Gold Exceeding RMB100K in CN To Need to Be Reported from 1 Aug
Recommend 19 Positive 33 Negative 31 |
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Recently, the People's Bank of China (PBOC) issued the Administrative Measures on Anti-Money Laundering and Counter-Terrorism Financing for Precious Metal and Gemstone Enterprises. It is mentioned therein that if a customer conducts a single transaction or a daily cumulative amount of RMB100,000 or more (including RMB100,000) or a cash transaction in foreign currencies of equivalent value, the enterprise shall, in accordance with the requirements, submit a report on the large transaction to the China Anti-Money Laundering Monitoring and Analysis Center within 5 working days from the date of occurrence of the transaction. AAStocks Financial News Website: www.aastocks.com |
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