On July 2, PANews reported that the People's Bank of China issued the (Management Measures for Anti-Money Laundering and Anti-Terrorist Financing of Precious Metals and Gemstone Industry) (hereinafter referred to as the (Management Measures)) on June 30, which will be implemented from August 1, 2025. The (Management Measures) were publicly solicited for opinions from April 3 to April 16, 2025.
Compared to the earlier anti-money laundering requirements proposed by regulatory authorities for the precious metals industry, this (Management Measures) clarifies the applicable subjects, the threshold amount, and specific circumstances of customer due diligence, incorporating the entire industrial chain of precious metals and gemstones into anti-money laundering supervision. From the changes observed, the threshold amount for submitting large transaction reports has been raised from 50,000 yuan to 100,000 yuan, and a large number of precious metals and gemstone retail stores should also be included.
Regarding the scope of the industry, according to the (Management Measures), the entities subject to the new regulations are those engaged in the spot trading of precious metals and gemstones within the territory of the People's Republic of China. Industry entities shall fulfill their anti-money laundering obligations as stipulated, accept anti-money laundering supervision and management, and cooperate with anti-money laundering investigations.