china-kyc-rules

china-kyc-rules

Purpose

Define 中国KYC与反洗钱规则 — comprehensive KYC/AML requirements for Chinese financial services.

Regulatory Framework

Primary Regulations

Regulation	Authority	Key Requirement
反洗钱法	全国人大常委会	AML framework law
金融机构客户尽职调查和客户身份资料及交易记录保存管理办法	央行	CDD/KYC requirements
金融机构大额交易和可疑交易报告管理办法	央行	STR reporting
法人金融机构洗钱和恐怖融资风险自评估指引	央行	Risk assessment
受益所有人身份识别办法	央行	UBO identification
证券期货业反洗钱工作规程	证监会	Securities-specific AML

Customer Identification

1. 客户身份识别 (Customer Identification)

Minimum identification requirements:

Customer Type	Required ID	Additional
中国自然人	身份证 (verified)
外国自然人	护照 + 居留许可
中国法人	营业执照 + 法人身份证
外国法人	注册证明 + 授权代表
合伙企业	营业执照 + 合伙协议
个体工商户	营业执照 + 经营者身份证

2. 受益所有人识别 (UBO Identification)

UBO identification rules:

Ownership %	UBO Identification
≥25% direct	Direct owner
≥25% indirect	Chain through entities
No 25% owner	Controlling person (实际控制人)
Government	N/A (state entity)

UBO information to collect:

Field	Content
姓名/名称	Name
身份证件	ID type and number
地址	Address
持股比例	Ownership %
控制方式	Control mechanism

3. 客户风险分类 (Customer Risk Classification)

Risk categories:

Category	Criteria	Due Diligence
低风险	Listed companies, government entities	Simplified CDD
中风险	Private companies, HNW individuals	Standard CDD
高风险	PEPs, high-risk jurisdictions	Enhanced CDD

Risk factors:

Factor	Low	Medium	High
客户类型	Listed, gov	Private corp	Shell company
行业	Low risk	Medium	Gambling, MSB
地理位置	Onshore	Main cities	Offshore, high-risk
交易模式	Simple, regular	Moderate	Complex, unusual
PEP	No	No	Yes

4. 尽职调查程序 (Due Diligence Procedures)

Simplified CDD (低风险):

Step	Action
1	Identify customer
2	Verify identity
3	Record information

Standard CDD (中风险):

Step	Action
1	Identify customer
2	Verify identity
3	Identify UBO
4	Understand nature of business
5	Verify source of funds
6	Ongoing monitoring

Enhanced CDD (高风险):

Step	Action
1-6	Standard CDD
7	Senior management approval
8	Enhanced source of wealth
9	Enhanced ongoing monitoring
10	PEP approval (if applicable)

5. 持续识别 (Ongoing Monitoring)

Ongoing CDD requirements:

Activity	Frequency
客户信息更新	Every 3-5 years or upon change
交易监控	Real-time / Daily
风险等级重估	Every 1-3 years
受益所有人更新	Upon change

Transaction Monitoring

大额交易 (Large Transactions)

Reporting thresholds:

Type	Threshold	Action
现金	RMB 50,000+	Report
转账	RMB 200,000+ (individual)	Report
转账	RMB 500,000+ (entity)	Report
跨境	RMB 20,000+	Report

可疑交易 (Suspicious Transactions)

Suspicious transaction indicators:

Pattern	Concern
快进快出	Rapid in-out (layering)
分散转入集中转出	Multiple in, one out (structuring)
集中转入分散转出	One in, multiple out
长期休眠账户突然激活	Dormant account activation
交易对手为高风险地区	High-risk jurisdiction
交易与客户背景不符	Mismatch with profile
大额现金交易	Large cash transactions
频繁跨境交易	Frequent cross-border

交易记录保存 (Record Keeping)

Record	Retention Period
客户身份资料	Business relationship + 5 years
交易记录	5 years from transaction
大额交易报告	5 years
可疑交易报告	20 years

A-share Specific Requirements

Securities Account KYC

Requirement	Detail
三方存管	Third-party custody
身份核验	Real-name registration
风险测评	Risk assessment questionnaire
适当性匹配	Suitability matching
回访	Follow-up calls

Account Opening Process

Step	Action	Document
1	身份核验	ID card verification
2	风险测评	Risk questionnaire
3	适当性评估	Suitability assessment
4	签署协议	Account agreement
5	三方存管	Bank linkage
6	回访	Telephone confirmation

Sanctions & Restrictions

禁止交易名单 (Restricted List)

Category	Examples
失信被执行人	Debtors in default
资本市场失信	Market ban list
私募禁止	Private fund bans
证券业协会	Industry bans

高风险地区 (High-Risk Jurisdictions)

Region	Risk Level
FATF灰名单	Enhanced CDD
FATF黑名单	Prohibited
OFAC制裁名单	Prohibited
联合国制裁名单	Prohibited

Quality Checks

Before completing:

• Customer identified and verified
• UBO identified
• Risk classification assigned
• CDD procedures followed
• Source of funds verified
• Transaction monitoring in place
• Records maintained
• Reports filed as required