On July 21, the Shanghai Regulatory Bureau of the China Financial Supervisory Administration announced a number of administrative penalty information disclosure forms involving various types of financial institutions such as insurance, banks, and auto finance. The total amount of fines was over 7 million yuan. In the banking sector, branches of six banks, including Ping An Bank, China CITIC Bank, Bank of Ningbo, Everbright Bank, and Bank of Communications, received fines ranging from 10,000 yuan to 2 million yuan. Many bank employees were banned from working in the banking industry for 5 to 10 years. Judging from the origin of the punishment, employee behavior management seriously violates prudential management rules and loan management seriously violates prudential management rules have become “high-frequency terms” in the banking sector. In the field of insurance, irregularities such as failure to use approved or registered insurance policies and insurance premiums in accordance with regulations and preparation or provision of false information are still the focus of regulatory crackdown. Three branches of Ping An China Property Insurance Company and many other organizations, including Huaan Property Insurance Shanghai Branch and Shengshi Dalian Online Insurance Agency, received fines. In the field of auto finance, Ford Motor Finance Co., Ltd. was fined 300,000 yuan for seriously violating prudential management rules in loan management, and 1 person responsible was warned. In addition, Oriental International Group Finance Co., Ltd. was fined 300,000 yuan for issuing operating property loans to accept entrustment loans, and one responsible person was warned and fined 50,000 yuan.

On July 21, the Shanghai Regulatory Bureau of the China Financial Supervisory Administration announced a number of administrative penalty information disclosure forms involving various types of financial institutions such as insurance, banks, and auto finance. The total amount of fines was over 7 million yuan. In the banking sector, branches of six banks, including Ping An Bank, China CITIC Bank, Bank of Ningbo, Everbright Bank, and Bank of Communications, received fines ranging from 10,000 yuan to 2 million yuan. Many bank employees were banned from working in the banking industry for 5 to 10 years. Judging from the origin of the punishment, employee behavior management seriously violates prudential management rules and loan management seriously violates prudential management rules have become “high-frequency terms” in the banking sector. In the field of insurance, irregularities such as failure to use approved or registered insurance policies and insurance premiums in accordance with regulations, and preparation or provision of false information are still the focus of regulatory crackdown. Three branches of Ping An China Property Insurance and many other organizations, including Huaan Property Insurance Shanghai Branch and Shengshi Dalian Online Insurance Agency, received fines. In the field of auto finance, Ford Motor Finance Co., Ltd. was fined 300,000 yuan for seriously violating prudential management rules in loan management, and 1 person responsible was warned. In addition, Oriental International Group Finance Co., Ltd. was fined 300,000 yuan for issuing operating property loans to accept entrustment loans, and one responsible person was warned and fined 50,000 yuan.