The Financial Action Task Force, or FATF, has invited China to act as an observer of the organization.

The rotating FATF chair country mailed Zhou Xiaochuan, Governor of People's Bank of China, an invitation to work with the organization.

China's central bank, the People's Bank of China, submitted the application to the FATF last February.

Meanwhile, China is quickening its steps on anti-money laundering legislation.

The Financial Action Task Force, the most influential international anti-money laundering organization, has 33 member countries and over 20 observers.

(CRI.com January 27, 2005)