In January 2003, the People’s Bank of China issued the Rules for Anti-money Laundering Efforts by Financial Institutions, Administrative Rules for the Reporting of Large-Value and Suspicious RMB Payment Transactions and Administrative Rules for the Reporting of Large-Value and Suspicious Foreign Exchange Transactions by Financial Institutions, which stipulate that financial  2/5  institutions should establish sound internal control system in anti-money laundering, report timely large-value and suspicious transactions (including 46 standards about suspicious reports for domestic and foreign currency transactions), keep records of clients documents and transactions for at least 5 years.
Moreover, 1 September 2001 was fixed as the starting date for the frontloading of euro cash to credit institutions in the euro area. This implies that credit institutions may also commence the sub-frontloading of euro cash to retailers, the vending machine industry and cash-in-transit companies in September 2001.