China

Xinhua | English | News | Dec. 1, 2025 | UndeterminedTech Development/Adoption

A new China-ASEAN Collaborative Innovation Demonstration Base for Emerging Industries was officially launched in Shenzhen on November 29, 2025. This initiative aims to deepen cross-regional cooperation in emerging technologies, regulatory frameworks, and industrial standards between China and ASEAN countries. The launch took place during the 2025 ASEAN-CHINA GBA Economic Cooperation (Qianhai) Forum, which drew over 1,000 participants from governments, business associations, and enterprises across both regions.

The innovation base will initially establish four demonstration centers in Shenzhen, Guangzhou, Singapore, and Kuala Lumpur, creating a network to support industrial collaboration and regulatory alignment. At the forum, more than 20 cooperation projects were signed, spanning sectors such as AI healthcare, distributed photovoltaic technology, and cell therapy.

Despite ongoing global economic slowdown and heightened protectionism, China and ASEAN continue to strengthen economic integration and have remained each other's largest trading partners for five consecutive years. The forum underscored the goal of building a closer network for exchanges, advancing cooperation in digital intelligence, and achieving practical results.

个人存取款超5万将告别“一刀切”式登记

Beijing News | Local Language | News | Dec. 1, 2025 | Regulation

Starting November 28, individuals depositing or withdrawing more than 50,000 yuan in cash will no longer face mandatory blanket questioning about their source of funds. The People’s Bank of China, along with the National Financial Regulatory Administration and the China Securities Regulatory Commission, issued new Measures for Customer Due Diligence by Financial Institutions which remove the previous one-size-fits-all registration requirement for cash transactions over this amount. Instead, due diligence procedures will be risk-based, with additional inquiries made only when a transaction poses a higher money-laundering risk.

The cancellation of the blanket registration rule aims to optimize financial services while maintaining strong anti-money-laundering controls. For low-risk transactions, such as pension or social security payments to the elderly, banks will conduct basic identity verification without demanding extra documentation. Conversely, for transactions that deviate from normal patterns or seem suspicious—such as unusual transfers inconsistent with a customer’s profile—financial institutions are required to perform enhanced scrutiny and verification.

Customer due diligence remains a central component of anti-money-laundering efforts, and financial institutions must continue to ask about the purpose and source of funds in higher-risk cases. The Measures emphasize the importance of “know your customer” principles, ongoing monitoring, and tailored due diligence based on transaction and customer risk profiles. While protecting personal privacy and business secrets, institutions are obliged to preserve accurate customer data and prevent leaks using appropriate technical and managerial safeguards.

Overall, these regulatory changes seek to balance effective money-laundering risk management with improved customer experience by eliminating unnecessary procedural burdens for low-risk transactions while maintaining vigilance against criminal misuse of the financial system.

Global Times | English | News | Dec. 1, 2025 | Geopolitical Conflict and Disputes

Chinese Ambassador to Japan Wu Jianghao emphasized that Japan must uphold its commitments outlined in historical political documents regarding Taiwan, including the 1972 Sino-Japan Joint Statement and the 1978 Treaty of Peace and Friendship. These agreements recognize the one-China principle and establish Taiwan as an inseparable part of China’s territory. The ambassador reiterated that these principles are binding for any Japanese political party or individual in power.

Wu condemned recent remarks by a current Japanese leader concerning Taiwan, describing them as provocative and damaging to international law, post-war order, and China-Japan relations. He stressed that Taiwan is a domestic matter for China, with its resolution and national reunification solely determined by the Chinese people. Foreign interference or threats of force against China’s sovereignty were strongly rejected.

The ambassador warned that China is fully prepared to defend its territorial integrity and sovereignty against any attempts to alter the status of Taiwan or intervene militarily in the Taiwan Strait. Wu called on Japan to cease undermining the post-war international order, retract the controversial statements, and correct its course to rebuild stable relations based on mutual respect for existing agreements.