According to Foresight News, China's State Administration of Foreign Exchange (SAFE) has formulated the 'Bank Foreign Exchange Business Management Measures (Trial)' based on the 'Regulations of the People's Republic of China on Foreign Exchange Administration' and relevant laws and regulations. The measures will be implemented starting January 1, 2024. Chapter 5, Article 28, titled 'Foreign Exchange Risk Transaction Monitoring and Disposal,' states that banks should monitor and analyze customer transactions for foreign exchange risk, and promptly report any suspicious activities involving false trade, false investment and financing, underground banks, cross-border gambling, export tax fraud, illegal cross-border financial activities of virtual currencies, and other suspected illegal cross-border capital flows to SAFE.