FATF: China to support Pakistan in improving counter-terrorism financing system

• China has said Pakistan is its all-weather strategic cooperative partner and China-Pakistan friendship is ‘unbreakable.’
• Purpose of FATF is helping countries better combat illegal activities such as money laundering and terrorist financing, rather than sanctioning or punishing any country, says China.

China has said it would continue to support Pakistan in its efforts to improve its counter-terrorism financing system and will also work with other Financial Action Task Force (FATF) members to provide more assistance to Pakistan.

“FATF is an important platform for international cooperation in anti-money laundering and countering the financing of terrorist activities. Its purpose is helping countries better combat such illegal activities as money laundering and terrorist financing, rather than sanctioning or punishing any country,” said Foreign Ministry Spokesperson Geng Shuang.

The spokesperson said that keeping Pakistan's rating unchanged shows FATF recognition of Pakistan's progress in improving the system of countering the financing of terrorism.

“Not long ago, the FATF plenary meeting decided to keep Pakistan's rating unchanged. It shows the FATF membership's recognition of Pakistan's progress in improving the system of countering the financing of terrorism, as well as encouragement for Pakistan's efforts. This is in line with the FATF purpose of fighting terrorist financing and upholding the security of the international financial system.

“China supports Pakistan's efforts to improve its counter-terrorism financing system and will work with other FATF members to provide more constructive support and assistance to Pakistan,” he added.

The spokesperson further said that Pakistan is China's all-weather strategic cooperative partner and the China-Pakistan friendship is ‘unbreakable.’

Earlier, China announced that it does not want the FATF forum to be politicised as some countries were pursuing their political agenda in a bid to blacklist Pakistan. “China does not want FATF to be politicised by any single country. There are some countries, which want to include Pakistan in the blacklist. We consider they have political designs. That is something China is against. China stands for justice,” said Deputy Director General for Policy Planning of Chinese Ministry of Foreign Affair Department of Asian Affair, Yao Wen.