Cathay Pacific Haitong Asset Management was fined more than 50 million yuan by the Shanghai Branch of the State Administration of Foreign Exchange. Recently, the Shanghai Branch of the State Administration of Foreign Exchange disclosed three pieces of administrative penalty information. Among them, Shanghai Cathay Pacific Haitong Securities Asset Management Co., Ltd. was warned, confiscated illegal proceeds and was fined for violating foreign exchange regulations for foreign securities investment by qualified domestic institutional investors and failed to make indirect declarations for balance of payments statistics in accordance with the regulations. The total amount of fines was 52.5474 million yuan.

Cathay Pacific Haitong Asset Management was fined more than 50 million yuan by the Shanghai Branch of the State Administration of Foreign Exchange. Recently, the Shanghai Branch of the State Administration of Foreign Exchange disclosed three pieces of administrative penalty information. Among them, Shanghai Cathay Pacific Haitong Securities Asset Management Co., Ltd. was warned, confiscated illegal proceeds and was fined for violating foreign exchange regulations for foreign securities investment by qualified domestic institutional investors and failed to make indirect declarations for balance of payments statistics in accordance with the regulations. The total amount of fines was 52.5474 million yuan.