Comments on the law of the People's Republic of China on anti‐money laundering

Abstract

Purpose

The purpose of this paper is to analyze the merits and disadvantages of the law of the People's Republic of China on anti‐money laundering.

Design/methodology/approach

The paper describes the main contents contained in the newly adopted law of the People's Republic of China on anti‐money laundering, celebrates the enactment of the law and points out the gap still remaining between Chinese legislation and international standards.

Findings

The enactment of the law of the People's Republic of China on anti‐money laundering is of vital significance. Based on the international experience in the fight against money laundering, Chinese anti‐money‐laundering legislation has made considerable progress. Its shortcomings, however, are also evident.

Originality/value

This paper presents a comprehensive description of, and comments on, the law of the People's Republic of China, which would be beneficial to the legislature.

Citation

Ping, H. (2007), "Comments on the law of the People's Republic of China on anti‐money laundering", Journal of Money Laundering Control, Vol. 10 No. 4, pp. 438-448. https://doi.org/10.1108/13685200710830925