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.
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Xiang Junbo, vice-governor of the
said regulators prepare to enforce anti-money laundering laws for
the securities and insurance industries this year. He did not
specify when this year.
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He made the remarks in Wenzhou City, east China's
Zhejiang Province, where officials from China's anti-money
laundering agencies met on Wednesday.
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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.
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Xiang added that China has taken solid steps in pursuing
international cooperation and preparations for China to join the
"Finance Action Task Force".
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(Xinhua News Agency March 2, 2006)