China News Client, Beijing, July 1 (Reporter Li Jinlei) From July 1, Hebei personal deposits and withdrawals of more than 100,000 yuan will be registered.
Do you think it's just Hebei? No. From October 1, Shenzhen personal deposits and withdrawals of more than 200,000 yuan and Zhejiang personal deposits and withdrawals of more than 300,000 yuan must be registered.
Data map: Bank teller is working. Photo by Ai Qinglong
what happened?
It turned out that this was a big move by the central bank. Recently, the Central Bank decided to conduct large-scale cash management work in Hebei Province from July 1, 2020, and in Zhejiang Province and Shenzhen from October 1. The pilot period is 2 years.
The question then arises: why should a large amount of cash be registered? Why choose these 3 places? Why are the starting point amounts different? Who will be affected? Does it affect the public's freedom of deposit and withdrawal?
The reason for managing large cash deposits and withdrawals, understanding the source of cash and cash withdrawal can be summarized in one sentence:
To curb the use of large amounts of cash for illegal crimes
You might think that now everyone pays electronically, who still uses cash? actually not.
In recent years, the volume of large-value cash transactions has continued to increase, and more and more large-value cash transactions are concentrated in specific fields, specific groups, and specific periods.
The central bank's 2017 survey found that there was a single withdrawal of more than 100 million yuan in cash. In today's environment where bank card payments and bank transfers are very convenient, this situation is not reasonable.
The central bank bluntly said that my country urgently needs to strengthen the management of large amounts of cash, protect reasonable demand, curb unreasonable demand, and curb the use of large amounts of cash for illegal crimes.
Data map: a bank staff counts the currency. China News Service reporter Zhang Yunshe
Why choose these three places to pilot?
It is mainly representative of Hebei, Shenzhen and Zhejiang.
Among them, Hebei took the lead in starting the pilot. The reason is that the large-scale cash business management of banking financial institutions in Hebei Province has a good foundation, so it was selected as the first to start the pilot.
Zhejiang Province and Shenzhen City are both key areas for cash delivery nationwide. Some industries in Zhejiang Province have outstanding cash use, and personal accounts have large cash use. The cross-border flow of RMB cash between Shenzhen and Hong Kong is common.
Why are the starting point amounts different?
At present, the starting point for the pilot account management in Hebei, Zhejiang and Shenzhen is 500,000 yuan, and the starting point for private account management is 100,000 yuan, 300,000 yuan and 200,000 yuan, respectively. Why is there a difference in the starting amount?
The central bank stated that it is necessary to protect the reasonable and reasonable demand of enterprises, individual businesses and the general public, and to strengthen the monitoring of “critical minority” cash transactions that may have tax evasion, regulatory evasion and unreasonable occupation of social resources.
That is to achieve a balance. Targeted monitoring of unconventional large-scale use of current behaviors, while avoiding the excessive burden of financial institutions in the banking industry and having a small overall impact on customers.
According to the current starting point amount standard, the number of large cash deposit and withdrawal business in each pilot area accounts for about 1% of the total.
RMB data map. Zhang Yunshe
Who will be affected?
Dong Ximiao, a special researcher at the National Finance and Development Laboratory, told reporters from China News that cash is anonymous and untraceable. Large amounts of cash often facilitate corruption, tax evasion, terrorist acts, and money laundering crimes, endangering the national economic and financial order. , Or even endanger national security.
Dong Ximiao said that under such circumstances, China urgently needs to learn from the experience of large amounts of cash management in various countries, and proceed from reality to further optimize our country's cash management and services, guide and standardize the public's cash use behavior, and on the one hand ensure reasonable cash use Demand, on the other hand, curbs unreasonable cash use demand and combats illegal cash use demand, thereby further reducing social costs, reducing criminal behavior, and preventing and mitigating economic and financial risks.
In the opinion of experts, after the registration of large amounts of cash, understanding the source and use of cash withdrawal will help combat corruption, tax evasion and money laundering. Therefore, those who engage in these illegal activities should be afraid.
Does it affect public freedom of access?
The central bank said: no effect.
Under the premise of legality and reasonableness, the public’s freedom to deposit and withdraw money is fully protected, and it will not significantly affect the daily economic activities of the public.
First, at present, my country has many payment methods such as cash, bills, transfers, online, mobile and so on. The diversified payment methods can meet the daily production and life needs of the vast majority of the public.
The second is that the starting point of the large amount of cash management has been investigated and demonstrated, which is higher than the daily cash usage of the vast majority of the public.
The third is that as long as the customer fulfills its registration obligations in accordance with the regulations, large amounts of access are now not restricted. (Finish)