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China central bank says it will improve supervision mechanism to combat money laundering

FILE PHOTO: A man walks past the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018. REUTERS/Jason Lee

BEIJING (Reuters) - China will improve its supervision mechanism for combating money laundering and for countering terrorism financing, the country’s central bank said on Wednesday.

Anti-money laundering efforts are important to contain risks at a time when China is opening up its financial sector and trying to clamp down on financial risks, according to a statement on the website of the People’s Bank of China (PBOC).

Reporting by Beijing Monitoring Desk; Editing by Richard Borsuk

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