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Will the China Banking Regulatory Commission check the large consumption of credit cards?
Yes According to Article 9 of the Measures for the Administration of Reports on Large-value Transactions and Suspicious Transactions of Financial Institutions, financial institutions shall report the following large-value transactions to China Anti-money Laundering Monitoring and Analysis Center, including cash deposits, cash withdrawals, cash settlement and sale of foreign exchange, cash remittance, cash bill settlement and other forms of cash receipts and payments with a single or cumulative RMB transaction of more than 200,000 yuan or the equivalent of more than 6,543.8+million dollars. The CBRC has a special anti-money laundering management system for everyone.