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Home >> China
UPDATED: 09:43, April 13, 2005
Central bank governor calls for mechanism to combat money laundering
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China's central bank governor Zhou Xiaochuan said Tuesday that it is of "significant importance" for European and Asian countries to establish an efficient anti- money laundering mechanism, according to sources from the People's Bank of China.

The mechanism will help check the serious transnational crimes, Zhou said at the opening ceremony of the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG), which opened Tuesday in Shanghai.

He said China has made achievements in combating money laundering by establishing an anti-money laundering supervision center and stepping up the work on stipulating a draft law on combating this kind of crime.

Meanwhile, the public security departments also have dealt with a batch of money-laundering cases based on tips, he said.

In January this year, China became an observer of the Financial Action Task Force on Anti-Money Laundering (FATF) and it aims to become a member of the group as soon as possible.

EAG includes six member countries, including Russia, China, Kazakhstan, Tajikistan, Belarus and Kyrghyzstan, and 19 observers from France, Britain, the United States, Japan, the World Bank, the International Monetary Fund, as well as other countries and international organizations.


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