IMF Staff Country Reports

People’s Republic of China: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism

Publication Date:

June 21, 2019

Electronic Access:

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Summary:

This report provides a summary of the anti-money laundering/combating the financing of terrorism (AML/CFT) measures in place in the People’s Republic of China (China)1 as at the date of the onsite visit (July 9–27, 2018). It analyzes the level of compliance with the Financial Action Task Force (FATF) 40 Recommendations and the level of effectiveness of China’s AML/CFT system and provides recommendations on how the system could be strengthened. China has undertaken a number of initiatives since 2002 that have contributed positively to its understanding of ML/TF risk, although some important gaps remain. Its framework for domestic AML/CFT cooperation and coordination is well established.

Series:

Country Report No. 2019/172

Subject:

Anti-money laundering and combating the financing of terrorism (AML/CFT) Banking Corruption Crime Economic sectors Financial sector Legal support in revenue administration Revenue administration