In the news: The PBOC and SAFE tighten transaction reporting, the NDRC fines GM $29 million, the CAC publishes a cybersecurity strategy and Qualcomm and Meizu settle a global patent dispute

January 05, 2017 | BY

Katherine Jo &clp articles

Cross-border cash transfer reporting thresholds were lowered, GM was penalized for antitrust violations, the CAC expanded the scope of CII and Meizu agreed to pay Qualcomm licensing fees

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PBOC steps up cross-border transaction reporting standards

The People's Bank of China (PBOC) released amended rules on December 30 requiring financial institutions to flag large-volume (defined as Rmb50,000 or above inrenminbi and $10,000 or above in