The anti-money laundering regime in the People's Republic of China started right after China opened its economy to the world following the Chinese economic reforms called "Socialism with Chinese Characteristics," under the leadership of the Chinese Communist Party led by Deng Xiaoping in December 1978. Since then, China has continued to implement all the necessary rules to comply with international anti-money laundering standards.

While China has not completely eradicated money-laundering, no nation can, its efforts toward this goal are laudable. This essay discusses China's anti-money laundering regime, its supporting legislation and enforcement, the strategies used by criminals to launder their dirty moneys, highlight some well-publicized cases both inside and outside China by Chinese-owned banks and conclude with some recommendations about how to improve the current system.