China will tighten oversight of large cash transactions in the precious metals and gemstone markets beginning this Friday. Under new regulations, any single or cumulative daily cash purchase of gold, diamonds, or other precious materials valued at 100,000 yuan (approximately $13,900 USD) or more—including equivalent amounts in foreign currencies—must be reported to authorities.Financial institutions and relevant dealers are required to submit transaction details to the China Anti-Money Laundering Monitoring and Analysis Center within five business days.The measure is aimed at strengthening China’s efforts to combat money laundering and improve transparency in high-value cash dealings, particularly in sectors historically vulnerable to illicit financial activity. This article was written by Eamonn Sheridan at investinglive.com.