To improve the transparency of the marketBigarcadeTo maintain market order and financial order, prevent and curb money laundering and terrorist financing activities, in accordance with relevant laws and administrative regulations on anti-money laundering and enterprise registration administration, and with the approval of the State Council, the people's Bank of China and the State Administration of Market Supervision and Administration jointly issued the measures for the Management of Information for beneficiary owners (decree No. 3 of the State Administration of Market Supervision and Administration of the people's Bank of China (2024), hereinafter referred to as the "Administration measures"). Shall enter into force as of November 1, 2024.
The Management measures have been established and perfected.BigarcadeChina's beneficiary owner information filing system is an important measure to optimize the business environment in our country. Promoting the construction of the information filing system for beneficiary owners can more clearly reflect the ownership structure, ultimate control and benefits of companies and other entities, improve market transparency, enhance information symmetry and mutual trust among business entities, improve transaction security and transaction efficiency, and further optimize the business environment of our country. At the same time, the beneficiary owner information filing system helps to prevent violations such as shell companies, false capital injection and nested shareholding from the source, helps to crack down on illegal and criminal activities such as telecommunications network fraud, and helps to prevent and curb corruption.
The "Management measures" follow the principles of the rule of law, simplification and convenience for the people, fully consider the national conditions of our country, stipulate which subjects should put on record the beneficiary owner's information, set a commitment exemption clause, and define the identification standard of the beneficiary owner. it limits the conditions for the query and use of filing information, so as to better standardize the relevant information of the beneficiary owners such as companies.
In the next step, the people's Bank of China and the State Administration of Market Supervision and Administration will continue to do a good job in the implementation of the "Management measures" and issue the "Guide for filing Information of beneficiary owners" in due course, so as to provide targeted guidance for the specific reporting work of relevant subjects, and steadily promote the filing work.
Link: order of the State Administration of Market Supervision and Administration of the people's Bank of China (2024) No. 3 (measures for the Information Management of beneficiary owners)