Regulatory Changes - The People's Bank of China issued a notice regarding the implementation of the "Anti-Money Laundering and Counter-Terrorism Financing Management Measures for Precious Metals and Gemstone Practitioners," effective from August 1, 2025, requiring institutions to fulfill anti-money laundering obligations for cash transactions of 100,000 RMB or more [1] - The "Administrative Penalty Discretionary Power Benchmarking Regulations for Cyberspace Administration" will also take effect on August 1, 2025, emphasizing heavier penalties for severe violations related to network information security and personal data protection [5] - The "Regulations on the Management of Risk Monitoring and Evaluation of Cosmetic Safety" will be implemented on August 1, 2025, focusing on monitoring five categories of risk substances in cosmetics [6] Industry Impact - The new regulations will require institutions dealing in precious metals and gemstones to report large cash transactions to the Anti-Money Laundering Monitoring and Analysis Center within five working days [1] - The updated "Occupational Disease Classification and Catalog" will come into effect on August 1, 2025, expanding the classification from 10 categories and 132 diseases to 12 categories and 135 diseases, including new categories for occupational musculoskeletal diseases and occupational mental and behavioral disorders [3] - The "Defective Special Equipment Recall Management Rules" will also be implemented on August 1, 2025, covering various special equipment including elevators and amusement facilities, establishing a structured recall process [5]

Core Viewpoint - The People's Bank of China has issued the "Management Measures for Anti-Money Laundering and Anti-Terrorist Financing for Precious Metals and Gemstone Practitioners," which will take effect on August 1, 2025, aiming to enhance regulatory compliance in the precious metals and gemstones sector [1][10]. Summary by Relevant Sections - The new regulations require institutions to fulfill anti-money laundering obligations for cash transactions of 100,000 RMB or more, or equivalent foreign currency, and to report large transactions to the Anti-Money Laundering Monitoring and Analysis Center within five working days [3][10]. - Institutions must conduct due diligence based on the "Know Your Customer" principle, assessing customer characteristics and transaction nature to identify money laundering risks [3][10]. - The regulations are part of a broader effort to implement the Anti-Money Laundering Law of the People's Republic of China, ensuring that the precious metals and gemstones industry adheres to strict compliance standards [1][10].