September 13 2017
The Chinese government will coordinate supervision to fight money laundering, terrorist financing and tax evasion, according to a guideline made public Wednesday. By 2020, China should be able to effectively prevent and control money laundering, terrorist financing and tax evasion by improving laws and regulations and coordinating the work of different government departments, said the guideline on the website of the State Council, China’s cabinet.
The country should also improve the legislation related to money laundering and terrorist financing crime, and strengthen risk monitoring and supervision on non-financial entities, including real estate agencies and precious metal and jewelry sales companies.