Administrative Measures for Beneficial Owner Information

Administrative Measures for Beneficial Owner Information

Order of the People's Bank of China and the State Administration for Market Regulation
(No. 3 [2024])

The Administrative Measures for Beneficial Owner Information, as deliberated and adopted at the executive meeting of the People's Bank of China, examined and signed by the State Administration for Market Regulation, and approved by the State Council, are hereby issued, and shall come into force on November 1, 2024.

Pan Gongsheng, Governor of the People's Bank of China
Luo Wen, Director of the State Administration for Market Regulation
April 29, 2024

Administrative Measures for Beneficial Owner Information

Article 1 These Measures are developed in accordance with the relevant laws and administrative regulations on anti-money laundering and administration of enterprise registration for the purposes of enhancing market transparency, maintaining the market order and financial order, and preventing and curbing money laundering and financing of terrorism.
Article 2 The following entities (hereinafter collectively referred to as “recordation entities”) shall file beneficial owner information through the relevant registration systems in accordance with the provisions of these Measures:
(1) Companies.
(2) Partnerships.
(3) Branches of foreign companies.
(4) Other entities prescribed by the People's Bank of China (PBC) and the State Administration for Market Regulation (SAMR).
Individual industrial and commercial households are not required to file beneficial owner information.
Article 3 For a recordation entity with a registered capital (or capital contribution) not exceeding 10 million yuan (or an equivalent in a foreign currency) and whose shareholders and partners are all natural persons, if no natural person other than its shareholders and partners actually controls the recordation entity or obtains benefits from it, and no one controls the recordation entity or obtains benefits from it through methods other than equity or partnership interest, the recordation entity shall be exempted from filing beneficial owner information after giving undertakings.
Article 4 The SAMR shall coordinate and guide the development of the relevant registration system, direct local registration authorities to file beneficial owner information in accordance with the law, and promptly send the collected beneficial owner information to the PBC. Local market regulatory departments at or above the county level shall urge recordation entities to promptly file beneficial owner information.
The PBC shall establish a beneficial owner information management system to promptly receive, retain, and process beneficial owner information. The PBC and its branch offices shall urge recordation entities to accurately file beneficial owner information.
Article 5 The PBC and its branch offices shall provide guidan......