PBOC steps up supervision of for ex trading

The People's Bank of China (PBOC) introduced a supervisory procedure on 15 January on large-sum and suspicious foreign exchange trading, in a bid to monitor foreign exchange trading and standardize reports.

Under the procedure, financial institutions conducting foreign exchange businesses in China should report any large-sum and suspicious foreign exchange trading to the state's foreign exchange administrative departments.

The procedure provides detailed descriptions of such trading and spells

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