China introduces new banking law to freeze terrorists’ assets
China has introduced a new law enabling banks to freeze assets of “terrorists” as it doubled the budget in the restive Xinjiang region to combat growing militancy following a bloody year of anti-government attacks.
The new regulation has come into force from January 10, the People’s Bank of China (PBOC) said on Friday.
The rule was jointly made by the PBOC, the Public Security Ministry and State Security Ministry, the central bank said.