China Backs Fight Against Money Laundering, Terrorism Financing

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Last updated at: (Beijing Time) Friday, September 06, 2002

China Backs Fight Against Money Laundering, Terrorism Financing

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China is prepared to participate in the efforts and activities of the international community to fight money laundering and terrorism financing, a Chinese minister said Thursday in Los Cabos of Mexico.

Finance Minister Xiang Huaicheng was speaking at the opening session of the two-day ninth Meeting of Finance Ministers of the Asia-Pacific Economic Cooperation (APEC).

Xiang urged the establishment of consultation mechanisms to regulate this issue between China, the United States, Russia and other countries.

He said China will explore the possibility of becoming a memberof international and regional organizations for fighting money laundering, and keep promoting international cooperation in this area.

Xiang expressed his conviction that China's participation in these organizations would no doubt strengthen its representation, and help form a network to cope with money laundering globally in the most effective way.

He reaffirmed China's opposition to any kind of terrorism and its support for the fight against the crime based on the principles of the United Nations Charter and other International Law regulations universally recognized.

The Chinese government insisted that the United Nations and its Security Council play a leading role in the cooperative fight against terrorism and the fight against money laundering and terrorism financing, in compliance with UN resolutions.

Xiang urged special measures be adopted to prevent innocents from being attacked during anti-terrorist campaigns.

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