laundering monitoring and analysis center to detect, distinguish suspicious criminal information in time and cracking down seriously and strictly money laundering and terrorist financing activities, in particular, underground banking criminal activities. 4. continue to conduct anti - money laundering examination and expand examination scope to securities and insurance companies to encourage the “ first protection line ” function of financial institutions in anti - money laundering and terrorist financing. 5. strive to join the fatf as a full member and strengthen cooperation with other countries and regions within bilateral or multilateral frameworks based on equal and mutual beneficial principles in information exchange, training, investigation assistance, property seizure and criminal suspects extradition and repatriation. 5 / 5

considered in some important decisions. it was especially emphasized that stakeholders should be involved in the insolvency process. fourth, the stakeholders should have access to necessary information on managing the company. the oecd again revised the five principles in 2004. in this revision, the protection of stakeholders and whistle blowers is emphasized. it, to a larger extent, stresses the rights of employees and creditors. there are three main aspects. first, it clearly states to establish a mechanism that enhances the participation of employees. stakeholders, including individual employees and their representatives, shall be able to freely express their views to the board with respect to any illegal or immoral activities in the company. employees ’ views and their rights to express the views shall be respected and protected. it shall be ensured that information can flow safely and confidentially to the board. second, corporate governance shall ensure the enhanced participation of employees, so that the employees ’ special skills can be put to use in the company, benefiting the company directly or indirectly. the examples of employees ’ participation include increasing representatives of employees in the board, adopting the plan of employee stocks holding and establishing a profit sharing mechanism such as pension contribution. for instance, pension contributions can be pooled into an independent fund and the fund manager shall be independent from the company ’ s management in terms of business operation. third, it stresses the important role of creditors in corporate governance and external supervision. it also states that effective and efficient liquidation framework and credit rights enforcement mechanism are important supplement to effective corporate governance, ensuring effective protection for the rights of the shareholders. the importance of employees and creditors is further stressed in the new version. china wishes to learn from international experiences and practices in the process of building a socialist market economy with chinese characteristics. it can be said from the point of view of a socialist market economy, china should do better in terms of employees ’ status and their involvement in managing companies. however, we do not have any established principles or framework related to stakeholders. we will learn by doing and reviewing experiences. why have we not done better compared with many traditional western economies in this aspect? it has to do with the mistakes in the past. for any country learning from the history and past experiences is a very important, though not an easy task, and one that is liable to misunderstanding. an example at hand is the americans ’ review of the great recession in 1929. the reviews generated different conclusions right after the recession and in the 30 ’ s and 40 ’ s