On December 30, 2017, the State Administration of Foreign Exchange (SAFE) of China has issued the "Circular of the State Administration of Foreign Exchange on Regulating Large-Scale Withdrawal of Cash with Bank Card" to regulate the large-scale withdrawal of cash with bank cards and improve the supervision of cross-border anti-money laundering. In order to prevent illegal elements holding large amount of cash withdrawn from large number of banks with multiple bank cards to engage in illegal activities, the Circular adjusts the annual amount of cash withdrawn overseas to no more than RMB 100,000 per person per year. The Circular comes into force on January 1, 2018.