Recently, the People's Bank of China issued the Measures for the Administration of Reports on Large Transactions and Suspicious Transactions of Financial Institutions (Order No.3 of the People's Bank of China [20 16], hereinafter referred to as the Measures), which came into effect on July 17, 2007. The Administrative Measures adjusted the reporting standard of RMB for large cash transactions from "200,000 yuan" to "50,000 yuan", and stipulated that financial institutions should submit large transaction reports for cross-border capital transactions.