PBOC chief says 'more time needed' to probe money laundering charges

China's central bank governor said more time is needed to investigate alleged money laundering by Bank of China Ltd.

"The news came out yesterday, and there's not enough time (to figure out what happened). The priority at the moment is to find out what's going on," said Zhou Xiaochuan, governor of the People's Bank of China, at a media briefing on the sidelines of the sixth round of the China-US Strategic and Economic Dialogue on Thursday in Beijing.

In a 20-minute broadcast on Wednesday, China Central Television alleged that Bank of China had violated rules on transferring money overseas that leaves money-laundering loopholes.