China will step up its anti-money laundering enforcement by
bringing capital-intensive securities and insurance industries
under surveillance in the near future, a senior central bank
official said on Wednesday.
Xiang Junbo, vice-governor of the
People's Bank of China
said regulators prepare to enforce anti-money laundering laws for
the securities and insurance industries this year. He did not
specify when this year.
He made the remarks in Wenzhou City, east China's
Zhejiang Province, where officials from China's anti-money
laundering agencies met on Wednesday.
Xiang said China made important progress in anti-money laundering
in 2005, as indicated by the drafting of the anti-money laundering
law, better coordination among relevant agencies and much more
frequent inspections at banks.
Xiang added that China has taken solid steps in pursuing
international cooperation and preparations for China to join the
"Finance Action Task Force".
(Xinhua News Agency March 2, 2006)