Agricultural Bank of China (AgBank), the country’s third-biggest lender, said it will spend three years building an anti-money laundering (AML) centre to improve and centralise AML control.
One of China’s biggest state-owned lenders has suspended an account used to fund ethnic rebels fighting government troops in Burma, halting an arrangement that could have stoked diplomatic tensions between Beijing and Naypyidaw.
More than 30,000 people have fled Burma’s restive Kokang autonomous zone in the aftermath of an attack by the region’s dominant ethnic armed group on the administrative capital Laogai earlier this month.
Dozens of Burmese soldiers have been killed in several clashes between ethnic rebels and the army in Kokang along the border with China, state media reports.
Aid workers and those displaced have expressed fears of a more violent and protracted conflict than a previous flare-up in the Kokang region in early 2015.
The Kokang Self-Administered Zone’s capital Laogai, in northern Shan State, came under attack early Monday morning, with a spokesman for the coalition of ethnic armed groups identifying itself as the Northern Alliance saying one of its members was responsible for the assault.