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.
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