BEIJING, Oct. 31 (Xinhua) -- China's top legislature adopted here on Tuesday an anti-money laundering law that broadens the definition of money-laundering crimes to include accepting bribes.

The definition of money laundering has been expanded to include corruption and bribe taking, violating financial management regulations and financial fraud.

The law is expected to come into effect on Jan. 1, 2007.

Previously, the law only identified drug trafficking, organized crime, terrorist crimes and smuggling as money laundering crimes.

China's officials and analysts believed the coverage is too narrow. They called for stepping up efforts to combat money laundering, which has risen in recent years along with activities such as embezzlement, drug trafficking and other smuggling.

The law demands financial and some non-financial institutions to maintain record on clients and transaction records and to report large and suspect transactions.

The People's Bank of China, or central bank, is the nerve center of the anti-money money laundering campaign. Its provincial branch offices are authorized to investigate suspect fund transfers of financial institutions.