China Targets Beneficial Ownership Information

On 1 November 2024, China implemented the Administrative Measures on Beneficial Owner Information, jointly issued by the People's Bank of China (PBOC) and the State Administration for Market Regulation (SAMR).

These measures aim to enhance market transparency, uphold financial order, and combat money laundering and terrorist financing activities, by mandating all companies in China – including subsidiaries of foreign companies – to disclose beneficial owner information (BOI) to Chinese authorities.

Scope of Application

The measures apply to all types of entities, including joint ventures, wholly foreign-owned enterprises, and other types of companies with foreign investment.