The People’s Bank of China (PBOC) promulgated The Measures for the Supervision and Administration of Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) of Financial Institutions (Measures), which came into effect on 01 August 2021. The new Measures have widened the scope of applicable institutions by adding developmental financial institutions, consumer finance companies, loan companies, non-banking payment institutions and many other types of financial service companies.