The Measures for the Administration of Customer Identification and Transaction Records Preservation of Financial Institutions has corresponding provisions:

Article 29? Financial institutions shall keep customer identity information and transaction records according to the following time limits:

(1) Customer identity information shall be kept for at least 5 years from the year when the business relationship ends or the year when the one-time transaction is recorded.

(2) The transaction records shall be kept for at least 5 years from the year when the transaction is recorded.

Extended data:

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Relevant provisions of the Administrative Measures for Customer Identification and Transaction Records Preservation of Financial Institutions:

Article 42? Depositors can choose their own banks to open bank settlement accounts. Except for national laws, administrative regulations and provisions of the State Council, no unit or individual may force depositors to open bank settlement accounts in designated banks.

The opening and use of bank settlement accounts shall abide by laws and administrative regulations, and bank settlement accounts shall not be used for tax evasion, debt evasion, cash withdrawal or other illegal and criminal activities.

Article 43 A commercial bank shall conduct effective due diligence on customers and transactions, focusing on counterparty, traded commodities and trading habits, as well as original vouchers or electronic trading information recognized by the bank.

Baidu Encyclopedia-Measures for the Administration of Customer Identification and Transaction Records Preservation of Financial Institutions