China will step up its anti-money laundering enforcement by bringing capital-intensive securities and insurance industries under surveillance in the near future, a senior central bank official said on Wednesday.
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Xiang Junbo, vice-governor of the said regulators prepare to enforce anti-money laundering laws for the securities and insurance industries this year. He did not specify when this year.
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He made the remarks in Wenzhou City, east China's Zhejiang Province, where officials from China's anti-money laundering agencies met on Wednesday.
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Xiang said China made important progress in anti-money laundering in 2005, as indicated by the drafting of the anti-money laundering law, better coordination among relevant agencies and much more frequent inspections at banks.
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Xiang added that China has taken solid steps in pursuing international cooperation and preparations for China to join the "Finance Action Task Force".
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(Xinhua News Agency March 2, 2006)