China launches large-sum cash oversight trials

rmb-china

The People’s Bank of China (PBoC) launched large-sum cash management trials last week, as the central bank aims to strengthen cash regulation to crack down on tax evasion and money-laundering.

The pilot run will take place in Hebei province, Zhejiang province and Shenzhen. The PBoC will monitor cash withdrawals that exceed certain limits in the three areas.

Hebei was chosen for its “strong foundations for management of large-sum cash operations”, while the eastern Chinese province of Zhejiang

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.