BEIJING -- Lawmakers on Friday voted to adopt a revised Anti-Money Laundering Law.

Consisting of 65 articles in seven chapters, the revised law, passed at a session of the National People's Congress Standing Committee, will take effect on Jan 1, 2025.

With refined anti-money laundering measures, the newly revised law balances the relationship between anti-money laundering efforts and the protection of the legitimate rights and interests of individuals and organizations, which is conducive to strengthening the rule of law in anti-money laundering work.

The newly revised law specifies that anti-money laundering efforts should be conducted in accordance with the law, and that anti-money laundering measures should be compatible with money laundering risks, to ensure the smooth operation of regular financial services and capital flow, and safeguard the legitimate rights and interests of relevant institutions and individuals.

The current Anti-Money Laundering Law has been in force since Jan. 1, 2007.