Source: China – South China Morning PostChina’s central bank has said it is postponing implementation of new rules that strengthen scrutiny of cash withdrawals and deposits due to “technical reasons”.The new regulation, which was said to target money laundering and originally expected to take effect on March 1, requires people who make a single cash deposit or withdrawal that exceeds 50,000 yuan (US$7,8884), or US$10,000 in a foreign currency, to report the source and intended use of the money.Banks and other licensed financial…Read More