Two departments issued the "Anti-Money Laundering Work Management Measures for Real Estate Agencies"

The Ministry of Housing and Urban-Rural Development and the People's Bank of China have issued the "Anti-Money Laundering Management Measures for Real Estate Industry Institutions". The Measures state that real estate industry institutions are required to fulfill their anti-money laundering obligations in accordance with the law, accept anti-money laundering supervision and self-discipline management, and cooperate with anti-money laundering investigations conducted by the People's Bank of China and its branches. Real estate industry institutions and their staff are prohibited from engaging in money laundering activities or facilitating money laundering activities. Real estate industry institutions should take proper measures to properly and accurately store customer identification information and transaction records obtained, with a retention period of not less than ten years.