Regulatory Communications and Notification

After KYC is completed, corporate accounts will be opened within 2 working days.

Promotion Month of Financial Knowledge 2018

The Promotion Month of Financial Knowledge 2018 is launched in this September to call upon the awareness of financial risks, cyber security and other growing financial topics among citizen investors.

Promotion Month of Financial Knowledge 2018

BNP Paribas (China) Limited Cross-border Interbank Payment System CIPS v2.0

For optimizing and developing the services offered to clients, from the date of 2 May 2018, BNP Paribas (China) Limited will start adopting Cross-border Interbank Payment System (Phase 2) and the new reporting documents structure, and follow the new business rules to conduct CNY cross-border payment settlement transactions. As the internal system upgrade, this change will not impact the business operations of our clients.

Measures for the Administration of Financial Institutions’ Reporting of High-Value Transactions and Suspicious Transactions (Order No. 3 [2016] of PBOC) take effect since 1st July 2017

Measures for the Administration define the new requirements of financial institutions to comply with their suspicious transactions reporting duties at the regulatory level, and contribute to the effectiveness of financial institutions’ reporting of suspicious transactions. Measures for the Administration will also contribute to the prevention of crimes such as money laundering and terrorism financing, to the maintenance of our financial system’s safety and order, and to further alignment with international standards.

There are four major changes compared with the previous version are to:

  • Define the suspicious transactions reporting requirements based on REASONABLE SUSPICION
  • Adjust the reporting threshold of High-Value Transactions denominated in RMB from 200,000.00 to 50,000.00
  • Newly add the application scope of regulations, reporting threshold of cross-border RMB transactions, etc.
  • Adjust the transaction reporting elements

When enterprises and individuals carry out fund receipt, payment or transfer, or other in-scope transactions, the obligation of reporting High-Value Transactions is performed by financial institutions like banks. Enterprises and individuals need not perform additional reporting procedures. The rules for reporting High-Value Transactions in Measures for the Administration neither have any impact on the normal foreign exchange business of enterprises and individuals, nor will change the amount limit of annual foreign exchange purchasing of a domestic individual. The new regulation does not involve the adjustment of individual foreign exchange business policy.

You may also find more information on Anti-Money Laundering from the following website of the People’s Bank of China.

Risk Alert — Preventing From Money Laundering Activities, Combating Terrorism Financing to Maintain the Financial Order

Following regulatory requirements from the People’s Bank of China, we would like to draw your attention to protect your personal financial information and to prevent from money laundering activities, so as to ensure security of your personal financial interests and maintain the social financial order.

To ensure security of your own financial assets and keep a sound credit records, it is essential to protect your personal financial information and to prevent other people engaging in illegal activities in the guise of your name. We highlight below tips for your attention:

  • Always choose safe and reliable financial institutions for financing services and products
  • Don’t let others use your personal identification credentials
  • Don’t let others use your bank account for transactions
  • Don’t use your bank account to make cash withdrawal or wire transfer or foreign exchange for others
  • Be prudent and choose reliable online services for transaction
  • Be vigilant in disclosing your personal financial information through online or offline promotion
  • Only make payment transfer with counterparties and for transaction purpose you know well

You may also find more information on Anti-Money Laundering from the following website of the People’s Bank of China.