China unveils draft rule on freezing terrorist assets

BEIJING, May 24 (Xinhua) -- Funds and assets related to terrorist groups and the facilitators of terrorist activities should be frozen immediately after a list of such groups and people is confirmed by authorities, according to a draft rule.

The document was jointly drafted by the People's Bank of China, the country's central bank, the Ministry of Public Security (MPS) and the Ministry of State Security. It was published online Friday to solicit public opinion for one month.

The draft rule is intended to put into practice a decision adopted in October 2011 by China's top legislature for strengthening counter-terrorism efforts, which urges improving the mechanism for freezing terrorist-related assets.

When a list of terrorist groups and facilitators of terrorist activities is announced by the MPS, a decision on freezing the funds and assets related to such groups and people will be made by the ministry, according to the 24-article draft.

As a follow-up measure, relevant financial institutions and specified non-financial entities should immediately place a hold on concerned funds and assets, the document adds.

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