China delays new bank disclosure rules after privacy outcry

Cash transactions prove sensitive topic ahead of Communist Party congress

20220225N China banknotes

© Reuters

IORI KAWATE, Nikkei staff writer

BEIJING -- China has walked back a new rule that would have increased surveillance on cash deposits and withdrawals just over a week before it was to take effect, suggesting a nod to public sentiment ahead of the twice-a-decade Communist Party congress this fall.

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