Core Viewpoint - The People's Bank of China and the China Banking and Insurance Regulatory Commission have introduced new regulations to strengthen the management of large cash withdrawals, effective June 1, 2025, aimed at preventing money laundering and ensuring the security of the financial system [2][13]. Group 1: Changes in Cash Withdrawal Procedures - The new regulations extend the advance notice required for cash withdrawals exceeding 100,000 RMB from one day to at least three working days, allowing banks sufficient time to verify customer identity and transaction purpose [5][9]. - Customers must now provide information on the intended use of the funds, such as for purchasing a house, car, or home renovations [5][9]. Group 2: Enhanced Identity Verification - In addition to valid identification, banks will implement biometric technologies such as facial recognition and voice recognition to prevent unauthorized withdrawals [7][9]. - Approximately 87% of bank branches in China are equipped with facial recognition technology, and 43% have initiated voice recognition systems [7]. Group 3: Monitoring of Large Fund Transfers - A "fund monitoring period" of one week will be imposed on customers who transfer large amounts (over 100,000 RMB) from other banks and then attempt to withdraw large cash amounts shortly thereafter, aimed at preventing money laundering [9]. Group 4: Stricter Management of Foreign Currency Withdrawals - The threshold for large foreign currency withdrawals has been lowered from 10,000 USD (approximately 70,000 RMB) to an equivalent of 50,000 RMB, reflecting increased management in the current complex international financial environment [9]. Group 5: Recommendations for Customers - Customers are advised to plan their cash needs carefully, as less than 1% of individual clients have a cash requirement exceeding 100,000 RMB in a single transaction [11]. - Electronic transfers are recommended for significant payments, such as down payments for homes or car purchases, to avoid the complications of large cash withdrawals [11]. - In urgent situations requiring immediate cash access, banks have established a green channel for expedited processing upon presentation of relevant documentation [13].