The “Administrative Measures on the Identification of Beneficial Owners of Financial Institutions Customers” were reviewed and approved by the 18th Business Meeting of the People's Bank of China 2025 on December 12, 2025. They are now promulgated and will take effect from January 20, 2026. Financial institutions shall carry out the identification and verification of beneficial owners in accordance with the following principles: based on risk principles. Financial institutions shall, in accordance with risk-based principles, adopt differentiated measures that match the degree of risk to identify and verify the beneficial owners of customers. The principle of rationality. Financial institutions should be diligent and responsible, understand the customer's ownership and control structure through reasonable means, identify and take reasonable measures to verify beneficial owners, so as to be confident that they understand the customer's beneficial owner identity information and rights status information. The principle of reliability. Financial institutions should identify and verify beneficial owners through supporting materials, data, or information from reliable sources, and comprehensively consider the overall reliability of supporting materials, data, or information from these different sources after confirming each other.

The “Administrative Measures on the Identification of Beneficial Owners of Financial Institutions Customers” were reviewed and approved by the 18th Business Meeting of the People's Bank of China 2025 on December 12, 2025. They are now promulgated and will take effect from January 20, 2026. Financial institutions shall carry out the identification and verification of beneficial owners in accordance with the following principles: based on risk principles. Financial institutions shall, in accordance with risk-based principles, adopt differentiated measures that match the degree of risk to identify and verify the beneficial owners of customers. The principle of rationality. Financial institutions should be diligent and responsible, understand the customer's ownership and control structure through reasonable means, identify and take reasonable measures to verify beneficial owners, so as to be confident that they understand the customer's beneficial owner identity information and rights status information. The principle of reliability. Financial institutions should identify and verify beneficial owners through supporting materials, data, or information from reliable sources, and comprehensively consider the overall reliability of supporting materials, data, or information from these different sources after confirming each other.