Speaking at the plenary meeting of the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG) held in Shanghai earlier this week, Zhou Xiaochuan, governor of the People's Bank of China, revealed the government's plans for the future.
Zhou explained that following the granting of observer status to China by the Financial Action Task Force in January 2005, the Beijing authorities are now keen to secure full membership of the anti-money laundering task force.
He reportedly told those attending the meeting on Tuesday that the country's membership of the EAG, in addition to its domestic efforts to counter the laundering of around $20 billion which takes place in China every year, would likely stand it in good stead with the FATF.
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