China's progress in strengthening measures to tackle money laundering and terrorist financing

Paris, 1 October 2020 - Since the 2019 assessment of the People’s Republic of China’s (China) measures to tackle money laundering and terrorist financing, the country has taken a number of actions to strengthen its framework.

China has been in an enhanced follow-up process following the adoption of its Mutual Evaluation Report of China - 2019

• Recommendation 26 (Regulation and supervision of financial institutions) - from partially compliant to largely compliant
• Recommendation 34 (Guidance and feedback) – from partially compliant to largely compliant

The Follow-Up Report China - 2020

China is now compliant on 7 of the 40 Recommendations and largely compliant on 18 of them. It remains partially compliant on 9 of the 40 Recommendations and not compliant on 6 of them. China remains in enhanced follow-up and will report back to the FATF on progress to strengthen its implementation of Anti-Money Laundering / Countering the Financing of Terrorism measures in October 2021.

Mutual Evaluation Report of China - 2019