China: Reforms to get boost in financial crime battle

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China will further beef up its fight against money laundering, funding for terrorism and tax evasion as the central government calls for intensified supervision efforts to ensure the implementation of reforms.

The three areas were highlights of the 34th meeting of the Central Leading Group for Deepening Overall Reform on Tuesday. The meeting was attended by President Xi Jinping, who heads the group.

The meeting reviewed and passed a guideline that aims to strengthen the country’s preventive measures in the three areas, according to a statement later released.

It will seek to establish a supervision system and structure to fight the three illegal activities through the use of financial intelligence and monitoring and data sharing, the statement said.

Read the original article here: chinadaily.com.cn


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